June 5 (Punjab Khabarnama) : The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will start from today (5 June) i.e. Wednesday. This meeting will go on till 7 June. This will be the second meeting of the financial year 2024-25. According to experts, there is no expectation of change in the RBI repo rate i.e. interest rate in this meeting. Currently the repo rate remains at 6.50%. RBI had not increased the interest rates in the meeting held earlier in April.
Monetary policy meeting is held every two months. The first meeting of the financial year 2022-23 was held in April-2022. Then RBI kept the repo rate stable at 4% but RBI called an emergency meeting on 2 and 3 May and increased the repo rate by 0.40% to 4.40%.
This change in repo rate happened after 22 May 2020. After this, in the meeting held from 6 to 8 June, the repo rate was increased by 0.50%. This increased the repo rate from 4.40% to 4.90%. Then in August it was increased by 0.50%, taking it to 5.40%.
In September, interest rates rose to 5.90%. Then in December, interest rates reached 6.25%. After this, the last monetary policy meeting of the financial year 2022-23 was held in February, in which interest rates were increased from 6.25% to 6.50%.
