RBI gave a big blow: 40 basis points increase in repo rates, all loans including home-auto will be expensive

Posted on 4th May 2022 02:54 pm by rohit kumar

Taking a big decision on Wednesday, the Reserve Bank of India (RBI) increased the policy interest rates, that is, now home-auto and personal loans will become expensive. Please note that these rates were unchanged from May 2020. Significantly, the MPC voted unanimously on the proposal to increase interest rates and after this, Reserve Bank Governor Shaktikanta Das issued an order to increase the policy repo rates by 40 basis points with immediate effect. Das said that this decision is being taken due to the risk and increasing volatility in the commodities and financial markets.

 

 

After this hike, the fixed repo rates at four percent for a long time have increased to 4.40 percent. It is worth noting that this increase in repo rates has come as a big blow to the customers taking loans. In fact, after increasing the rates, now home, auto, and parcel loans will become expensive and the EMI burden will increase.

 

 

Significantly, in April, inflation exceeded the Reserve Bank of India's forecast. Let us inform here that the quick effect of RBI's decision to increase policy rates has been seen on the stock markets and the stock market, which is already trading with a decline, has fallen by filling it. The BSE broke 1000 points and reached below 56 thousand. At present, has slipped 1070 points to the level of 55,864.

Other news

National Herald Case: Rahul Gandhi to appear before ED on June 13, Congress made this special plan

Congress on ED Notice to Sonia and Rahul Gandhi: In the National Herald case, Congress interim pr

Russian army will soon have to evacuate Kherson city of Ukraine, General Sergei Surovikin told this big reason

The Russian army is now facing difficulties in Ukraine. This is not the claim of any media report

Delhi Murder Case: On the third day of marriage, the truth of the murder of the girlfriend was told to the wife, who said- 'You go to your home

Nikki Yadav Murder Case: When there was no contact with daughter Nikki for two days, father Sunil

Such abusive leaders were caught: 150 CCTVs and 25 hotels were searched by the police, Srikanth cut the Ferrari in these six cities

Alleged BJP leader Shrikant Tyagi, accused of indecency with a woman in Grand Omaxe Society, Sect

Israel-Hamas War: Israel will not fire ammunition on Gaza for two months, proposal put forward to Hamas terrorists

Israel has once again moved forward on a ceasefire proposal in the Israel-Hamas war that started

UPMSP Result 2023: Practical of students who did not miss the result from today, high school and inter results before this date

UPMSP 10th, 12th Result 2023: On the one hand, in a fake official release viral on social media,

PM Modi: PM Modi presiding over the second conference of Chief Secretaries; more than 200 people attended

Prime Minister Narendra Modi is presiding over the second National Conference of Chief Secretarie

ICC T20I Rankings: Suryakumar Yadav remains at No. 2, Shreyas Iyer takes a long jump

Indian batsman Suryakumar Yadav is ranked second in the latest ICC Men's T20I rankings while Shre

Before FIFA World Cup 2022, thousands of workers were evicted in Qatar's capital Doha, this big reason came to the fore

In Qatar's capital Doha, apartment blocks of thousands of foreign workers living in the same area

Earthquake in Taiwan: Biggest earthquake in 25 years, electricity and internet shut down; Lights out in millions of homes

Earthquake in Taiwan: Today is once again recorded in history for Taiwan. Exactly 25 years ago, t