RBI Repo Rate: RBI increased the repo rate by 0.35% to 6.25%, so your loan EMI will increase further


Posted on 7th Dec 2022 03:45 pm by rohit kumar

RBI Governor has announced to increase in the repo rate after the MPC meeting which lasted for three days. RBI has announced a 0.35% increase in the repo rate. Now the repo rate of RBI has increased from 5.4% to 6.25%. RBI has decided to increase it for the fifth consecutive time. The central bank started it in May 2022 with the announcement of increasing the repo rate by 40 basis points. After that, the repo rate was increased by 50-50 points in June, August, and September. In the MPC meeting held in May also, the repo rate was increased by 50 basis points to 4.90%.

 

While announcing the repo rate hike, the RBI governor also said that inflation is likely to remain above 4 percent for the next four months. Five out of six members of the MPC have supported the decision to increase the repo rate. Announcing the repo rate, the RBI governor has also said that rural demand is showing improvement in the country. Consumer confidence has also improved. The RBI governor has said that the GDP growth in the financial year 2023 could be 6.8%. The RBI governor has also said that the CPI may remain at 5% in the first quarter of the financial year 2024.

 

The Reserve Bank has opted for a 35 bps increase in the repo rate in its upcoming monetary policy review on Wednesday amid signs of moderation in retail inflation and the need to prop up growth, according to experts. Explain that the Reserve Bank of India (RBI) presented its next bi-monthly policy on December 7 (Wednesday) after the three-day meeting of the Monetary Policy Committee (MPC) which began on Monday.

 

Also Read: Services sector: Activities at a three-month high, Global India Services Business Activity Index reaches 56.4

1 Like 0 Dislike
Previous news Next news
Other news

Weather Update: Fog and cold wave in North India, chances of rain in these areas from February 3

After two days of sunshine, fog has again increased and the icy cold has increased in most areas

Nabanna Abhijan Rally: Howrah Bridge closed, grease applied on iron gate; Kolkata Police's tactics to stop the protest

Students are marching to the State Secretariat (Nabanna Abhiyan) on Tuesday in protest against th

Not only Sheesh Mahal and liquor scam, but the CAG report also mentions the mohalla clinic; the political uproar in Delhi

On Tuesday, 14 CAG reports of the tenure of the AAP government will be presented in the assembly.

India Vs West Indies T20: Why did West Indies lose in the 3rd T20I? Captain Rovman Powell explained the reason and blamed the defeat on the batsmen

IND vs WI T20I Series 2023: The West Indies team, which performed brilliantly in the first two ma

CBI will not investigate the case of children's death due to cold syrup, SC rejects the petition

Several children died in Madhya Pradesh and Rajasthan after consuming toxic cold-cough syrup. The

Two-day traffic diversion in Delhi for Chhath festival; no entry on Delhi-Noida routes, including Bhajanpura.

Delhi Traffic Advisory on Chhath Puja: Large crowds are expected at various ghats across Delhi du

Nagpur violence: Curfew was imposed in 11 areas, and 33 policemen including three DCPs injured; Fadnavis said - the violence was pre-planned

Curfew has been imposed in 11 police station areas of Nagpur after violence erupted due to agitat

Economic Survey: Union Home Minister Amit Shah said- India is ready to emerge as a global superpower

Union Home Minister Amit Shah on Tuesday said India is poised to emerge as a global superpower an

Anant Radhika Pre-Wedding: Akon praised Shahrukh in the pre-wedding function, said- love like brothers

Mukesh Ambani's younger sons Anant Ambani and Radhika Merchant are going to get married on July 2

Year Ender 2022: After the Corona period, CBSE and CISCE again changed the pattern of examinations

Year Ender 2022: This time the Central Board of Secondary Education (CBSE) is adopting its old pa

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash