RBI Monetary Policy: No respite to home, auto loan borrowers; RBI keeps interest rate unchanged at 4%
The EMIs on home and auto loans are unlikely to come down in the near term as the Reserve Bank of India on Friday kept the key policy rates unchanged in its bi-monthly Monetary Policy review. The central bank announcing the outcome of its bi-monthly Monetary Policy rates on October 9 said that it has decided to keep the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent. RBI will continue with its accomodative stance. The three day RBI Monetary Policy Committee (MPC)…