FD Rates: Recently, the Reserve Bank of India (RBI), in its monetary policy meeting, decided that there would be no change in the repo rate and it would be maintained at 6.5 percent. Let us tell you that the last time in the month of February, the repo rate was increased from 6.25 percent to 6.50 percent, since then, there has been no change in the repo rate. Due to no change in the repo rate, those people who want to get FD have got a lot of benefit.

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This is because at present, FD rates are very high and it is believed that they are at their highest level.

Now, the question arises whether the rates will rise further? Are they really at the highest level?

Best time for FD

Optima Money Managers Pvt. Ltd. Pankaj Mathpal, CEO and MD, says, "Right now it does not seem at all that there will be any change in the interest rates from the Reserve Bank of India in the coming days. And after a few months, it is possible that interest rates may be cut by the Reserve Bank. If interest rates are cut, it will have a direct impact on the banks and they will also cut their interest rates. This means that it is expected that FD interest rates will not fall for a few months. In such a situation, if someone wants to get an FD, then this is a very good time for FD."
 

Why RBI can cut interest rates

There are many reasons, considering which it seems that the RBI may see a decline in interest rates in the coming days. Let us know about them.
 

Inflation rate under control to a great extent

If seen, there has been a decline in inflation rate for the last few months.

To control inflation, the RBI increases the repo rate and limits the circulation of currency in the market.

Retail inflation stood at 4.87 per cent in October, before that it was 5.02 per cent in September and 6.83 per cent in August.

However, retail inflation has again increased to 5.55 per cent in the month of November.

Looking at the inflation, it seems that inflation is under control, due to which there is hope that now the RBI can cut the repo rate.
 

Crude oil prices fell

If we look at crude oil, it had reached $115 per barrel in May 2022.

Since then, there has been a decline in the prices of crude oil.

In September 2023, crude oil fell to $91 per barrel.

Now crude oil is hovering between $72-74 per barrel.

Looking at this also, it seems that now, there is no need for the RBI to increase the interest rates further, on the contrary a reduction in them can be seen.