Bad news for home loan-car loan borrowers by RBI

Date:

Share:

In an effort to lower inflation, the RBI may increase its bimonthly monetary policy review (MPC) by 0.25 percent next month.RBI

This information by RBI may shock you

if you have taken out a home loan or are about to take out a car loan. At the upcoming monetary policy review, the Reserve Bank of India (RBI) may raise the policy rate (including the repo rate and reverse repo rate). In an effort to lower inflation, the RBI may increase its bimonthly monetary policy review (MPC) by 0.25 percent next month. In the report published by DBS Group Research, this hope is expressed.RBI

RBI raised the Repo rate by 2.5 percent.

To combat price increases, the RBI has raised the repo rate by 2.5 percent since May of last year. In February, the repo rate rose by 0.25 percent to 6.50 percent. Radhika Rao, executive director and senior economist at DBS Group Research, stated that the RBI may increase the policy rate by 0.25 percent in April as a result of persistently high retail inflation during an online discussion on economic growth and inflation.RBI

The inflation rate has stayed at or above 6%.

In December 2022, the retail inflation rate was 5.72 percent; in January 2023, it had risen to 6.52 percent. In February, it dipped marginally to 6.44 percent. According to Rao, monetary policy cannot be utilized as a sole tool to combat inflation brought on by supply-side limitations. He declared, “The agricultural industry depends on the current weather conditions. According to the local meteorological department, temperatures could be high over the next three months. It’s crucial that the monsoon in June-July arrives.

Read More: This mistake will lead your AC to stop cooling in a few months

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 Facebook Page                  Click Here
🔥 Twitter                               Click Here
🔥 Instagram                  Click Here

Subscribe to our magazine

More Like This

Apple to give these 5 amazing features with ios 18 in iPhones

The Worldwide Developer Conference, Apple's largest annual event, was just held (WWDC 2024). Apple launched the iOS 18 update for Apple iPhones during this...

Application status for each SSC Selection Phase 12 region has been announced

The Staff Selection Commission (SSC) has begun sending out admission cards for the next SSC Selection Phase 12 and has made the application status...

ATM withdrawals will be costly! operators have requested that charges be raised

The news is not good for users using ATMs to withdraw cash. In the upcoming days, these consumers might get a shock, as ATM...

Free ration to continue for ration card holders after the new government is formed

This information is relevant to you if you have a ration card and use the government's inexpensive or free ration programs. During its third...

Apple iPhone 13 is now available at half price! offer expires soon

People continue to find Apple's iPhone 13 to be a very popular smartphone. This phone and the previous Apple iPhone 12 are fairly similar....

LEAVE A REPLY

Please enter your comment!
Please enter your name here