Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Wed, 08 Jun 2022 10:08 AM IST
hear the news
Expansion
The results of the meeting of the Monetary Committee of the Reserve Bank of India (RBI) were announced on Wednesday. Announcing the results, Governor Shaktikanta Das said that in the meeting it was decided to increase the policy interest rates or repo rates by 50 basis points or 0.50 percent. That is, the repo rate will increase from 4.40 to 4.90. This will increase the EMI burden of the loan.
It is worth noting that earlier in the month of May, in order to control the rising inflation in the country, the RBI had organized a meeting of MPC without prior notice and in this it was announced to increase the repo rate by 0.40 percent. After this, after staying at a historic low of 4 per cent since 2020, these rates suddenly increased to 4.40 per cent. After this increase, the RBI governor had also already indicated that the repo rates could be increased further in the meeting to be held in June.