Wednesday, July 23, 2025
spot_img

RBI Repo Rate Hike: Moratorium of just a few hours, then your loan EMI is going to increase so much

In the meeting of May 2022, the Reserve Bank increased the repo rate by 0.40 percent. After that, a regular meeting of the Monetary Policy Committee was held in June, in which the repo rate was increased by 0.50 percent. RBI changed the repo rate in May for the first time after nearly two years. For almost two years, the repo rate remained at just 4 percent. At present, the repo rate is 4.90 percent.

The scheduled meeting of the Reserve Bank’s Monetary Policy Committee (RBI MPC meeting) scheduled for August 2022 is set to be completed in no time. Now only a few hours are left in waiting, only then it will be known that this time the burden of interest on the people is going to increase further. Reserve Bank Governor Shaktikanta Das will give information about the decisions taken after the three-day meeting from Wednesday at 10 am today. Earlier this meeting was to be held from Monday to Wednesday, but due to some reasons, it had to be postponed.

Relief from inflation, yet these difficulties

After the efforts of the government and the Reserve Bank, gradually inflation is being controlled. However, on the other hand, the central banks of many countries, including the US Central Bank Federal Reserve, are aggressively raising interest rates. Due to historical inflation in the US, the Federal Reserve has been continuously raising interest rates. The Bank of England also this week announced the biggest increase in interest rates in a record 27 years. With this, almost all analysts believe that the repo rate itself will increase. Like last time. in the June meeting, this time also the repo rate will increase, remain stable or will decrease, there is no question about it. This time also the repo rate is set to increase, although analysts are not unanimous on how much it will increase. Most analysts are of the opinion that this time the Reserve Bank can increase the repo rate from 0.35 percent to 0.50 percent.

Rates did not increase for four years

To control inflation, the Reserve Bank started increasing the repo rate in May this year. The Reserve Bank had called an emergency meeting of the Monetary Policy Committee (RBI MPC meeting) in May. Due to rising inflation, the Reserve Bank had to do this. In the meeting of May 2022, the Reserve Bank increased the repo rate by 0.40 percent. After that, a regular meeting of the Monetary Policy Committee was held in June, in which the repo rate was increased by 0.50 percent. RBI changed the repo rate in May for the first time after nearly two years. For almost two years, the repo rate remained at just 4 percent. At present, the repo rate is 4.90 percent.

Repo rate may increase so much

According to credit rating agency Icra, members of the monetary policy committee can vote in favor of increasing the repo rate from 0.35 percent to 0.50 per cent. According to Aditi Nair, Chief Economist of ICRA, this time also the RBI can increase the repo rate by 0.50%. According to the ICRA, the monetary policy committee of the Reserve Bank will give more importance to the balance of domestic economic growth and inflation than the pace of rate hikes by the Federal Reserve. The Reserve Bank will also consider the movement of the rupee while fixing the rates. A higher interest rate differential relative to the US could trigger a sell-off by foreign investors, which would prove to be bad for both the rupee’s value and India’s forex reserves.

Read More: PF Money: Who gets the money deposited in the PF account after the account holder dies? find out more here.

EMI burden set to increase

Many analysts say that after the RBI raised interest rates from 0.35% to 0.50% in its August meeting, it may follow the same trend. If the repo rate continues to increase like this, then the banks will also keep increasing the interest rates. The hike in interest rates will have a direct impact on those who are paying the EMI of a home loan or personal loan. Apart from this, those who are planning to buy a house or car in the coming times, are bound to be burdened with increased EMI.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

August 2 Solar Eclipse: Six Minutes Darkness

August 2027: The solar eclipse that will take place in August 2027 is referred to as the longest of the century. Darkness will reign...

Kinetic DX returns after 41 years July.

The Kinetic DX electric scooter, which was hailed as the two-wheeler market's game-changer forty-one years ago, is now available in an electric version. Tell...

Rajasthan: 2,163 Technician Jobs, Secure Government Opportunity

Recruitment for 2163 Technician-III positions in the Electricity Department has been announced by the Rajasthani government. The application deadline was March 20th, but with...

WhatsApp AI summarizes chats, saving you time.

Without having to sift through lengthy discussions, WhatsApp's new AI-powered Quick Recap function will provide users with a summary of unread messages in a...

Top 5 Curved Smartphones, Over 20,000 Rupees

Curved displays were formerly limited to the mid- to premium range, but today there are a ton of fantastic options with premium feel and...

Most Popular