On Wednesday, the Reserve Bank of India (RBI) gave a big blow to the people of the country facing inflation, by increasing the repo rate, then the very next day ICICI Bank also increased the burden on its customers. The bank has increased the lending rate i.e. the interest rate on the loan by 50 basis points or 0.50 percent. After this, now home, auto, and personal loans will become expensive from here.
The interest rate will increase to 8.60 percent
According to the report, the new rates will be effective from June 9. With this change, the interest rate on loans provided by ICICI Bank will increase to 8.60 percent, from 8.10 percent before the hike. Along with this, due to this increase, the EMI of home loans, and the auto loan will also increase. There is a possibility that after ICICI Bank, other banks may also hike rates.
Repo rate increased so much in 35 days
Significantly, after the bi-monthly monetary review (MPC) meeting on Wednesday, the RBI has increased the key policy interest rates (repo rate) by 50 basis points, or 0.50 percent, to 4.9 percent. Earlier on May 4, the central bank had increased the repo rate by 40 basis points. That is, the rate increased by 0.90 percent in just 35 days.
Also Read: RBI again increased the repo rate by 50 basis points, home, and car loans will be expensive
Despite not being able to maintain consistency in performance, Sunrisers Hyderabad need
The Central Government has notified the 'Integrated Waqf Management, Empowerment, Efficiency and
Trade unions and farmers' organizations across the country have called for a nationwide strike to
The Election Commission of India made a big announcement on Thursday. The Election Commission has
The NIA has intensified its investigation into the recent blast near the Red Fort in Delhi. As pa
Manipur has been burning in the fire of violence since last year. More than a year has passed sin
Rakesh Sharma: 'Space travel changes the way of thinking'; Rakesh Sharma shared his old experiences
Rakesh Sharma, India's first astronaut to go to space in 1984, shared his travel experiences. He
On the occasion of Alvida ki Namaaz, strict security arrangements are being ensured in all the di
Silver Price Crash: Precious Metal Falls 45% From Peak—Will Prices Drop to ₹1.50 Lakh Next?
After witnessing a historic rally earlier this year, silver prices have entered a sharp correctio
The three-day meeting of the Reserve Bank of India's (RBI) monetary policy review is starting tod
