{"id":3201,"date":"2024-10-10T12:32:16","date_gmt":"2024-10-10T07:02:16","guid":{"rendered":"https:\/\/kreditbazar.com\/blog\/?post_type=news&#038;p=3201"},"modified":"2024-10-10T12:32:20","modified_gmt":"2024-10-10T07:02:20","slug":"rbi-mpc-october-2024-the-repo-rate-unchanged-at-6-5","status":"publish","type":"news","link":"https:\/\/kreditbazar.com\/blog\/news\/rbi-mpc-october-2024-the-repo-rate-unchanged-at-6-5\/","title":{"rendered":"RBI MPC October 2024: Will Your Home Loan EMIs Come Down After Today\u2019s Repo Rate Decision?"},"content":{"rendered":"<div class=\"pvc_clear\"><\/div><p id=\"pvc_stats_3201\" class=\"pvc_stats total_only  \" data-element-id=\"3201\" style=\"\"><i class=\"pvc-stats-icon small\" aria-hidden=\"true\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"far\" data-icon=\"chart-bar\" role=\"img\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\" class=\"svg-inline--fa fa-chart-bar fa-w-16 fa-2x\"><path fill=\"currentColor\" d=\"M396.8 352h22.4c6.4 0 12.8-6.4 12.8-12.8V108.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v230.4c0 6.4 6.4 12.8 12.8 12.8zm-192 0h22.4c6.4 0 12.8-6.4 12.8-12.8V140.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v198.4c0 6.4 6.4 12.8 12.8 12.8zm96 0h22.4c6.4 0 12.8-6.4 12.8-12.8V204.8c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v134.4c0 6.4 6.4 12.8 12.8 12.8zM496 400H48V80c0-8.84-7.16-16-16-16H16C7.16 64 0 71.16 0 80v336c0 17.67 14.33 32 32 32h464c8.84 0 16-7.16 16-16v-16c0-8.84-7.16-16-16-16zm-387.2-48h22.4c6.4 0 12.8-6.4 12.8-12.8v-70.4c0-6.4-6.4-12.8-12.8-12.8h-22.4c-6.4 0-12.8 6.4-12.8 12.8v70.4c0 6.4 6.4 12.8 12.8 12.8z\" class=\"\"><\/path><\/svg><\/i> <img decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/kreditbazar.com\/blog\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif\" =0 title=\"\"><\/p><div class=\"pvc_clear\"><\/div>\n<p>In the <strong><a href=\"https:\/\/www.rbi.org.in\/scripts\/FS_Overview.aspx?fn=2752\" data-type=\"link\" data-id=\"https:\/\/www.rbi.org.in\/scripts\/FS_Overview.aspx?fn=2752\" target=\"_blank\" rel=\"noopener\">Monetary Policy Committee (MPC)<\/a><\/strong> meeting, the <strong><a href=\"https:\/\/www.rbi.org.in\/\" data-type=\"link\" data-id=\"https:\/\/www.rbi.org.in\/\" target=\"_blank\" rel=\"noopener\">Reserve Bank of India (RBI)<\/a><\/strong> made an important announcement about the <strong>repo rate<\/strong>, which has a direct impact on <strong>home loan EMIs<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#rbi-keeps-repo-rate-unchanged\">RBI Keeps Repo Rate Unchanged<\/a><\/li><li><a href=\"#impact-on-home-loan-em-is\">Impact on Home Loan EMIs<\/a><\/li><li><a href=\"#what-is-the-repo-rate\">What is the Repo Rate?<\/a><\/li><li><a href=\"#expert-opinions-on-the-rb-is-decision\">Expert Opinions on the RBI&#8217;s Decision<\/a><\/li><li><a href=\"#will-em-is-decrease-soon\">Will EMIs Decrease Soon?<\/a><\/li><li><a href=\"#how-does-this-affect-real-estate\">How Does This Affect Real Estate?<\/a><\/li><li><a href=\"#kreditbazar-your-partner-for-personal-loans\">Kreditbazar: Your Partner for Personal Loans<\/a><\/li><li><a href=\"#conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"rbi-keeps-repo-rate-unchanged\"><strong>RBI Keeps Repo Rate Unchanged<\/strong><\/h2>\n\n\n\n<p>For the <strong>10th consecutive time<\/strong>, the <strong>RBI<\/strong> has kept the <strong>repo rate<\/strong> unchanged at <strong>6.5%<\/strong>. This decision was made as part of the <a href=\"https:\/\/www.icra.in\/Rating\/DownloadResearchSpecialCommentReport?id=5966\" data-type=\"link\" data-id=\"https:\/\/www.icra.in\/Rating\/DownloadResearchSpecialCommentReport?id=5966\" target=\"_blank\" rel=\"noopener\"><strong>fourth bi-monthly monetary policy<\/strong> <\/a>for the fiscal year 2024-25, led by <strong><a href=\"https:\/\/www.rbi.org.in\/commonman\/English\/Scripts\/PressReleases.aspx?Id=2989\" data-type=\"link\" data-id=\"https:\/\/www.rbi.org.in\/commonman\/English\/Scripts\/PressReleases.aspx?Id=2989\" target=\"_blank\" rel=\"noopener\">RBI Governor Shaktikanta Das<\/a><\/strong>.<\/p>\n\n\n\n<p>The central bank aims to strike a balance between promoting <strong>economic growth<\/strong> and controlling <strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Inflation\" data-type=\"link\" data-id=\"https:\/\/en.wikipedia.org\/wiki\/Inflation\" target=\"_blank\" rel=\"noopener\">inflation<\/a><\/strong>. This stability is crucial for <strong>homebuyers<\/strong> as it keeps loan interest rates steady, supporting their <strong>EMI payments<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"impact-on-home-loan-em-is\"><strong>Impact on Home Loan EMIs<\/strong><\/h2>\n\n\n\n<p>With no change in the <strong>repo rate<\/strong>, those with existing <strong>home loans<\/strong> can breathe a sigh of relief as their <strong>EMIs<\/strong> will remain stable. This decision is particularly favourable during the <strong>festive season<\/strong> when <strong>real estate demand<\/strong> is typically higher.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-the-repo-rate\"><strong>What is the Repo Rate?<\/strong><\/h2>\n\n\n\n<p>The <strong>repo rate<\/strong> is the interest rate at which the <strong>RBI<\/strong> lends short-term funds to banks, helping them meet their <strong>liquidity needs<\/strong>. This affects the cost of loans that banks offer to <strong>consumers<\/strong> and <strong>corporates<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"expert-opinions-on-the-rb-is-decision\"><strong>Expert Opinions on the RBI&#8217;s Decision<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Sanjay Dutt<\/strong>, MD and CEO of <strong><a href=\"https:\/\/tatarealty.in\/\" data-type=\"link\" data-id=\"https:\/\/tatarealty.in\/\" target=\"_blank\" rel=\"noopener\">Tata Realty and Infrastructure<\/a><\/strong>, stated:<br><em>\u201cThis move ensures stability, which is essential for the long-term growth of the real estate sector. Stable rates boost confidence among homebuyers.\u201d<\/em><\/li>\n\n\n\n<li><strong>Pradeep Aggarwal<\/strong>, Founder &amp; Chairman of <strong><a href=\"https:\/\/www.signatureglobal.in\/\" data-type=\"link\" data-id=\"https:\/\/www.signatureglobal.in\/\" target=\"_blank\" rel=\"noopener\">Signature Global (India) Ltd<\/a><\/strong>, added:<br><em>\u201cThe continued stability will likely keep the real estate market strong, especially during the festive season.\u201d<\/em><\/li>\n\n\n\n<li><strong>Mohit Jain<\/strong>, Managing Director of <strong><a href=\"https:\/\/krisumi.com\/\" data-type=\"link\" data-id=\"https:\/\/krisumi.com\/\" target=\"_blank\" rel=\"noopener\">Krisumi Corporation<\/a><\/strong>, highlighted:<br><em>\u201cWhile we expected a rate cut, the unchanged rate still supports stable <\/em><strong><em>EMIs<\/em><\/strong><em>, which is a good outcome for homebuyers.\u201d<\/em><\/li>\n\n\n\n<li><strong>Pankaj Pal<\/strong>, MD of <strong><a href=\"https:\/\/www.wlcorp.com\/\" data-type=\"link\" data-id=\"https:\/\/www.wlcorp.com\/\" target=\"_blank\" rel=\"noopener\">Whiteland Corporation<\/a><\/strong>, remarked:<br><em>\u201cThis will have a positive effect on luxury housing, especially in cities like <\/em><strong><em>Gurgaon<\/em><\/strong><em> where demand is high.\u201d<\/em><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"will-em-is-decrease-soon\"><strong>Will EMIs Decrease Soon?<\/strong><\/h2>\n\n\n\n<p>Several experts suggest that a <strong>rate cut<\/strong> could be on the horizon, depending on how the global and domestic economies evolve. If rates are reduced shortly, it will likely lower <strong>EMIs<\/strong> for home loans, making housing more affordable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-does-this-affect-real-estate\"><strong>How Does This Affect Real Estate?<\/strong><\/h2>\n\n\n\n<p>The decision to maintain the <strong>repo rate<\/strong> gives a boost to <strong>real estate developers<\/strong> by ensuring <strong>project financing<\/strong> costs remain predictable. This steady rate allows developers to plan future projects with greater confidence and keeps the demand for housing strong.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"kreditbazar-your-partner-for-personal-loans\"><strong>Kreditbazar: Your Partner for Personal Loans<\/strong><\/h2>\n\n\n\n<p>While the RBI\u2019s decisions affect home loans, if you are looking for a <strong>personal loan<\/strong> with competitive interest rates, <strong>Kreditbazar<\/strong> is here to help. We offer <strong><a href=\"https:\/\/kreditbazar.com\/\" data-type=\"link\" data-id=\"https:\/\/kreditbazar.com\/\">pre-approved loans<\/a><\/strong> from <strong>leading lending partners and NBFCs<\/strong> to meet your financial needs quickly and efficiently.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>The <strong>RBI<\/strong> has provided much-needed stability by keeping the <strong>repo rate<\/strong> unchanged. This decision is a win for <strong>homebuyers<\/strong> and the <strong>real estate sector<\/strong>, as it maintains affordable <strong>EMIs<\/strong> and supports housing demand. For those eyeing a <strong>personal loan<\/strong>, <strong>Kreditbazar<\/strong> is your trusted partner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the Monetary Policy Committee (MPC) meeting, the Reserve Bank of India (RBI) made an important announcement about the repo rate, which has a direct impact on home loan EMIs. RBI Keeps Repo Rate Unchanged For the 10th consecutive time, the RBI has kept the repo rate unchanged at 6.5%. This decision was made as<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","tags":[1022,1026,1020,1024,1023,1021,1025],"news-category":[],"class_list":["post-3201","news","type-news","status-publish","hentry","tag-home-loan-emis-after-rbi-decision","tag-home-loan-emis-stability","tag-impact-of-repo-rate-on-home-loans","tag-rbi-impact-on-home-loans","tag-rbi-october-2024-mpc-meeting-outcome","tag-rbi-repo-rate-unchanged-2024","tag-repo-rate-2024"],"a3_pvc":{"activated":true,"total_views":103,"today_views":5},"_links":{"self":[{"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/news\/3201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/comments?post=3201"}],"version-history":[{"count":2,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/news\/3201\/revisions"}],"predecessor-version":[{"id":3203,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/news\/3201\/revisions\/3203"}],"wp:attachment":[{"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/media?parent=3201"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/tags?post=3201"},{"taxonomy":"news-category","embeddable":true,"href":"https:\/\/kreditbazar.com\/blog\/wp-json\/wp\/v2\/news-category?post=3201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}