RBI Hike In Repo Rate: The rate of various loans will be affected by the increase in the repo rate by RBI.

The Reserve Bank of India (RBI) has decided to increase the repo rate. In the meeting of the Monetary Policy Committee, RBI has announced an increase in the repo rate by 0.50 percent. With this hike, the repo rate has gone up from 4.90 to 5.40. However, with this decision, the interest rates of various […]
 


RBI Hike In Repo Rate: The rate of various loans will be affected by the increase in the repo rate by RBI.

The Reserve Bank of India (RBI) has decided to increase the repo rate. In the meeting of the Monetary Policy Committee, RBI has announced an increase in the repo rate by 0.50 percent. With this hike, the repo rate has gone up from 4.90 to 5.40. However, with this decision, the interest rates of various loans will increase and the worries of the borrowers will increase further.

The Monetary Policy Committee of the Reserve Bank is currently meeting. After today’s meeting, RBI has indicated to increase the repo rate. If RBI increases the repo rate, it is expected that it will have an impact on the common people. The Reserve Bank has increased the repo rate twice this year so far. Earlier on May 4 and June 8, 2022, the RBI had increased the repo rate by a total of 90 basis points, after which banks and housing finance companies increased the interest rates on home loans from 0.90 per cent to 1.15 per cent. After that RBI has also announced an increase in the repo rate. RBI has decided to increase the Repo Rate (RBI Hike Repo Rate). RBI Governor Shaktikanta Das said that this hike in interest rates will be implemented with immediate effect. With this decision of RBI, the repo rate has gone up to 5.40 percent.

What is the effect of increasing the repo rate?

Home loans, education, personal, car loans will become more expensive as the RBI hikes the repo rate. There is a possibility of further burden on the common man already suffering from inflation.