RBI Monetary Policy: Loans To Get Expensive As Reserve Bank of India Increases Repo Rate by 50 BPS to 4.90%
Due to the increase in repo rate, all loans and EMIs may become expensive for the people. RBI had slashed the repo rate in March 2020 with the aim to help with the COVID-19 crisis and lockdowns.
Reserve Bank of India Monetary Policy Committee has increased the repo rate by 50 bps to 4.90%, said Governor Shaktikanta Das on Wednesday. Due to the increase in repo rate, all loans and EMIs may become expensive for the people. RBI had slashed the repo rate in March 2020 with the aim to help with the COVID-19 crisis and lockdowns.
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