Reserve Bank’s announced for interest rate
The Reserve Bank of India Governor Shaktikanta Das, headed by RBI, has raised interest rates on loans to banks by 6.50 per cent and the interest rate on loans from banks to 6.25 per cent.
At this meeting the repo interest rate and reverse repo interest rate was reduced by 0.25 percent. The repo rate dropped to 6.25 percent and the reverse repo fell to 6 percent. The interest for home loan and other loans is expected to be reduced.
Similarly, the country’s gross domestic product (GDP) will be 7.4 per cent in 2019-20 fiscal year. In the first half of the fiscal year 2019-20 fiscal inflation is expected to be 3.2% to 3.4% and in the third quarter it is estimated to be 3.9%.