New Delhi: As interest rates on home and automobile loans remain unchanged, its EMI is unlikely to decline in the near future. The Reserve Bank of India has kept the repo rate and reverse repo rates unchanged since its bi-monthly monetary policy review meeting on Friday. It has been decided to keep the rate at 3.35 percent.The three-day RBI Monetary Policy Committee (MPC) meeting was held from October 6 to October 8. The RBI adjourned the MPC meeting last week, as the meeting required a minimum of four members to attend, while the appointment of three independent members was delayed. The monetary policy was announced by the central bank after three external members were appointed to the committee on Monday. On Monday, the government appointed Asima Goyal, Jayant R Burma and Shashanka Vide as members of the RBI’s Monetary Policy Committee.
