RBI Loan Rate: Loan will have to be taken in December and more expensive, repo rate may increase, know what is the reason

RBI Repo Rate Hike 2022: There may be an increase in the repo rate once again from the Reserve Bank of India in the month of December 2022. RBI may increase the repo rate by 0.35 percent in its next monetary policy meeting to be held in December. State Bank of India has made this claim in its research report. Recently, RBI increased the repo rate by 0.50 bps to 5.90 percent.

Fourth increase in 5 months

Significantly, RBI has increased the repo rate for the fourth time in 5 months. Due to this the public has to pay more EMI. EMI on home loan, car loan, personal loan or any other type of loan has increased. After the announcement of RBI, many private banks and NBFC companies have increased their interest rates.

what is the reason

In the last 5 months, 4 times in the last 5 months, RBI has increased the repo rate by 1.90 percent to control inflation. Due to this the repo rate has reached a 3-year high of 5.90 percent. For the first time, the RBI had increased by 0.40 percent in May, 0.50 percent each time in the months of June, August and September.

will increase by 35 bps

According to SBI research report, there may be an increase of 35 bps points in December 2022. Additionally, the announcement of new projects declined to Rs 4.35 lakh crore in Q1 FY23 as compared to Rs 5.75 lakh crore in Q4.

Inflation reached 7 percent

Inflation is still at the highest level in the country. Even after increasing the interest rate by RBI, inflation is 1 percent more than the highest level of 2-6 percent fixed by the central bank. It is to be known that in the month of August, the retail inflation rate was 7 percent. On the other hand, if inflation does not come under control in the coming months, then RBI can increase by 0.35 percent in the next monetary policy meeting to be held in December.

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