RBI Governor Shaktikanta Das announced an increase of 50 basis points in the repo rate on Wednesday. This can give a big blow to the bank customers, as soon banks can increase the EMI of home loans, personal loans, and car loans. RBI Governor informed that the Monetary Policy Committee of the central bank has unanimously voted to increase the repo rate by 50 basis points. Now this rate has become 4.90 percent.
Repo rate hiked for the second time in 5 weeks
The Reserve Bank of India (RBI) has changed the repo rate for the second time in 5 weeks after the three-day meeting of the Monetary Policy Committee on June 8. Let us tell you that last month on May 4, 2002, RBI suddenly announced an increase of 0.40 basis points in the repo rate. The same RBI has increased the repo rate by 50 basis points after 5 weeks, today i.e. on June 8, 2022. The Repo rate has been changed.
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