RBI Policy: Loan installments increased again; RBI hikes repo rate by half a percentage

Mumbai: RBI Governor Shaktikanta Das today announced a bi-monthly review of the credit policy. Repo rate hiked by 0.50 percent Inflation has been higher than the Reserve Bank’s expectations for the last six months. Therefore, the Reserve Bank had earlier increased the interest rate by 0.90 per cent in two phases to bring inflation under […]
 


RBI Policy: Loan installments increased again;  RBI hikes repo rate by half a percentage

Mumbai: RBI Governor Shaktikanta Das today announced a bi-monthly review of the credit policy. Repo rate hiked by 0.50 percent

Inflation has been higher than the Reserve Bank’s expectations for the last six months. Therefore, the Reserve Bank had earlier increased the interest rate by 0.90 per cent in two phases to bring inflation under control. Another 0.50 per cent hike in the third phase today raised the single repo rate by 1.40 per cent to 5.40 per cent.

While domestic inflation is somewhat under control as compared to the world, the increase in interest rates has increased the home loan repayments of the people significantly. The decision taken by the Reserve Bank in today’s monetary policy review meeting will further increase the lending rate.