EMI may increase..? RBI's important decision..!?

The Federal Reserve bank of America increased the interest rate by 75 basis points a few days ago. This is seen as a move in the midst of rising inflation, which is expected to increase further. It is also expected to have an echo in India. RBI meeting will be held on august 5. It is also expected that the interest rate may increase by 35-50 basis points in this RBI meeting. The continuous increase in interest rates in the US may lead to an outflow of investments.
So this may also prompt the central bank of india to increase the interest rate. In May and June, the RBI raised the repo rate and continued to raise interest rates. It is also expected to increase in the upcoming third meeting. Interest rate hikes were made by 40 basis points in May and 50 basis points in June. It is expected to increase this time too. Let's see what kind of problems common people may face with this move by the central bank.Especially the increase in interest rate can increase the interest rate on the loan. Similarly, the interest rate on deposits made in banks may also increase. Due to this, the monthly installment may increase. However, returns on deposits will increase.State bank of india Group Chief Economist said the RBI is expected to hike interest rates by 35 basis points this time. It is expected to reach pre-Corona levels. Similarly, BofA Securities Company and RBI are expected to increase the interest rate by 35 basis points this time. All in all, RBI's actions can affect the pockets of common people. May be forced to spend more than before.

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EMI will increase

Sowmiya Sriram

29/07/2022 06:59 PM