RBI Hikes Repo Rate By 0.40 Percent, Loan EMI May Increase
RBI Hikes Repo Rate By 0.40 Percent, Loan EMI May Increase The Reserve Bank of India (RBI) on Wednesday announced an increase of 40 basis points in t…
Sushmita Goswami
May 4, 2022RBI Hikes Repo Rate By 0.40 Percent, Loan EMI May Increase
The Reserve Bank of India (RBI) on Wednesday announced an increase of 40 basis points in the repo rates. This is likely to make all types of loans costlier. However, RBI has taken this step with the aim of controlling inflation. Inflation in March is higher than expected. This factor can become a hindrance in the progress of the country.
Along with this, RBI has taken many other big measures. RBI Governor Shaktikanta Das also said that the inflation rate is expected to increase in April as well.
Today the stock market started flat. RBI Governor Shaktikanta Das has increased the repo rate by 0.40 percent. This may increase your home loan EMI.
Life Insurance Corporation of India's IPO opened today for subscription. It will be open till 9th May.
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Sushmita Goswami
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