RBI Repo Rate Hike: RBI Hikes The Repo Rate By 50 Basis Points
RBI Repo Rate Hike: RBI hikes the repo rate by 50 basis points, home, car, and personal loans will be expensive.
RBI Governor Shaktikanta Das announced an increase of 50 basis points in the repo rate on Wednesday.
This can give a big blow to the bank customers, as soon banks can increase the EMI of home loans, personal loans,s, and car loans.
RBI Governor informed that the Monetary Policy Committee of the central bank has unanimously voted to increase the repo rate by 50 basis points. Now this rate has become 4.90 percent.
RBI Repo Rate Hike: Repo rate was hiked for the second time in 5 weeks.
The Reserve Bank of India (RBI) has changed the repo rate for the second time in 5 weeks after the three-day meeting of the Monetary Policy Committee on June 8.
Let us tell you that last month on May 4, 2002, RBI suddenly announced an increase of 0.40 basis points in the repo rate.
The same RBI has increased the repo rate by 50 basis points after 5 weeks, today i.e. on June 8, 2022. The Repo rate has been changed.
RBI Repo Rate Hike: Retail inflation is expected to be 7.5 percent in May-June.
RBI has projected retail inflation to be 7.5 percent in the late April-June quarter. While retail inflation is expected to be 7.4% during the second quarter.
Whereas in the third quarter of FY 2022, this figure could be 6.2 percent. Whereas in the fourth quarter, retail inflation maybe 5.8 percent.
RBI Governor Shaktikanta Das said that according to the estimates released by the National Statistics Office on May 31, India’s GDP growth rate is estimated to be 8.7% in the financial year 2021-22.
Whereas in the financial year 2021-22, the real GDP is more than the level of the epidemic ie 2019-20.
World Bank cuts India’s GDP growth rate by 1.2 percent, counts this reason.
The World Bank has announced a cut in India’s estimated growth rate in the current financial year. The World Bank had projected the Indian economy to grow at 8.7 percent in January 2022.
But now it has announced a cut of 1.2 percent. In such a situation, the Indian economy is expected to grow at the rate of 7.5 percent in the current financial year.
