EMI will be expensive this time, know why…

New Delhi: RBI increased the rate The Reserve Bank of India on Friday hiked the policy repo rate to ease inflationary pressure. This is the third hike in interest rates. The repo rate has been increased by 50 basis points. As a result, the repo rate has increased to 5.40 percent. Initially the repo rate was 4.90 percent which has now reached 5.40 percent.

According to information, a meeting of the Monetary Policy Committee headed by RBI Governor Shaktikanta Das has taken this decision. As the report rate increases, it will have an impact on EMI and loans will be expensive. According to information, the repo rate has increased by 1.40 percent in 4 months.