RBI hikes repo rate, RBI raises repo rate by 50 bps to 5.90%; Home, car loans will be affected by GS

रेपो दरात वाढ झाल्याने पुन्हा Home Loans सह सर्व कर्ज महागणार, तुमचा EMI वाढणार

New Delhi: RBI hikes repo rate by half a percentage point: The central government is facing a big failure in controlling inflation. Therefore, even after taking a big step, the Reserve Bank of India has not been able to control inflation. It is being said that the Indian economy is standing strong despite the great turmoil in the economy. However, inflation is increasing. To control inflation and prevent devaluation of rupee, RBI has increased the repo rate by half a percentage point.

Repo rate hiked by half

Home, car and personal loan EMIs are also likely to increase due to the increase in the repo rate. Home, car and personal loans will become more expensive. This is because the cost of borrowing for banks will increase, leading to an increase in lending rates. Announcing the decisions of the Monetary Policy Committee (MPC), RBI Governor Shaktikanta Das said that the Reserve Bank of India has increased the repo rate or prime lending rate by 50 basis points to 5.90 per cent.

The central bank has increased the repo rate four times since May to 5.90 per cent recently. The recent revision in the repo rate has been done to keep the inflation level within the target. The correction comes as analysts have forecast a 50 bps hike in the repo rate on account of global conditions. It has been decided to increase the repo rate by half a percent. RBI Governor Shaktikanta Das informed about the increase in the repo rate. A majority of six to five decided to increase the repo rate.

Once again all loans including home loans will be expensive

Bank loans were likely to be costly. Along with this, banks were expressing the possibility of increasing the repo rate by 0.50 percent today. If the repo rate increases, the cost of borrowing will increase. Banks are likely to burden the customers. Hence, all loans including home loans were likely to be costly. This is likely to affect the sale of houses. Now RBI has increased the repo rate by half a percent. (again all loans including home loans will become expensive) So the home loan EMI will increase. Due to this, you will have to pay more money while taking a loan for the house.

RBI’s Monetary Policy Committee met today. This time it has been decided to increase the repo rate. Earlier on August 5, RBI had increased the repo rate by half a percentage point to 5.40 percent. This is believed to be the result of rising interest rates in America.


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