-RBI Governor Shashikant Das stressed on achieving 4 percent inflation rate
Mumbai EMI be reduced in December: Recently some banks have increased their loan installments. At the same time, the inflation rate has also gone above 6 percent. In this way the middle class has come under the scanner. Union Minister Piyush Goyal had recently requested RBI Governor Shaktikanta Das to reduce the rising inflation. After Goyal, Finance Minister Nirmala Sitharaman also mentioned reducing the repo rate. In such a situation, the hopes of the common people have once again been raised. Reserve Bank of India Governor Shaktikanta Das has now indicated.
At present there is no possibility of reduction in repo rate by the Reserve Bank of India (EMI to be reduced in December). RBI Governor Shaktikanta Das reiterated that the central bank's fight against inflation is not over yet. He has indicated that interest rates may remain high for a long time. Das explained the role of RBI at the Global South Central Banks Conference. We are trying to bring inflation under control as per the target. Unless we reach the 4 percent target, our work will not be complete.
He said strong growth has given us an opportunity to focus on inflation, efforts are on to bring inflation down to 4 percent. Stable inflation or price stability is in the interest of the public and the economy. In such a situation it acts as a pillar of sustainable development, it increases the purchasing power of the people and creates a stable environment for investment.
Finance Minister's emphasis on rate cut
Recently, both the Union Commerce Minister and Finance Minister (EMI to be reduced in December) stressed on reducing inflation. Commerce Minister Piyush Goyal had said that the RBI should ignore food price inflation. Because it is an issue of supply and demand, Finance Minister Nirmala Sitharaman had asked banks to reduce interest rates to encourage private investment.
Will loan EMI reduce in December?
RBI has not made any change in the repo rate after February 2023. There has been no cut in interest rates since May 2023. Inflation rate has gone above the RBI target level of 6 percent. In such a situation, the possibility of RBI Monetary Policy Committee (MPC) cutting the repo rate in December is less. As a result, loan interest rates will not reduce and the common man has little hope of relief on EMI rates.
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