loans to be costlier Archives - TV Punjab | English News Channel https://en.tvpunjab.com/tag/loans-to-be-costlier/ Canada News, English Tv,English News, Tv Punjab English, Canada Politics Wed, 07 Dec 2022 07:17:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://en.tvpunjab.com/wp-content/uploads/2022/03/cropped-favicon-icon-32x32.jpg loans to be costlier Archives - TV Punjab | English News Channel https://en.tvpunjab.com/tag/loans-to-be-costlier/ 32 32 Inflation: RBI hikes repo rate, loans to be costlier, EMIs to rise https://en.tvpunjab.com/inflation-rbi-hikes-repo-rate-loans-to-be-costlier-emis-to-rise/ https://en.tvpunjab.com/inflation-rbi-hikes-repo-rate-loans-to-be-costlier-emis-to-rise/#respond Wed, 07 Dec 2022 07:17:10 +0000 https://en.tvpunjab.com/?p=23913 Mumbai: The Reserve Bank of India has decided to increase the policy rate repo rate from 0.35 percent to 6.25 percent in the monetary policy review today. RBI has taken this step in view of the international uncertainty environment and inflation. At the same time, the central bank has lowered the gross domestic product (GDP) […]

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Mumbai: The Reserve Bank of India has decided to increase the policy rate repo rate from 0.35 percent to 6.25 percent in the monetary policy review today. RBI has taken this step in view of the international uncertainty environment and inflation.

At the same time, the central bank has lowered the gross domestic product (GDP) growth forecast for the current financial year 2022-23 from 7 percent to 6.8 percent.

The increase in the repo rate means that borrowing from banks and financial institutions will be expensive and the monthly installment (EMI) of existing loans will increase.

The announcement in this regard was made by RBI Governor Shaktikanta Das today.

The post Inflation: RBI hikes repo rate, loans to be costlier, EMIs to rise appeared first on TV Punjab | English News Channel.

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