Inflation in the country still remains at a high level. Meanwhile, on April 6, the monetary policy of the Reserve Bank of India is going to come once again. In the election season, it is possible that RBI will increase the interest rates for the last time. Read this news…
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reserve Bank of India (RBI) Monetary Policy Committee of (MPC) The meeting is to be held from 3 to 6 April. Due to the high level of inflation in the country, it is believed that this time also the increase in the repo rate by 0.25 percent is certain. But it is possible that this increase in the repo rate will be the last one before the elections. That is, this time the EMI of your loan may increase for the last time. Let us know how…
Increasing the repo rate of RBI makes the most difference on the middle class, because along with increasing the repo rate, banks increase the interest rates ranging from home loan to car loan, personal loan etc. This means that the EMI of the loan will increase. It is possible that before the 2024 general elections in different states of the country and before the 2024 general elections, the increase in interest rates will freeze. We are not saying this, but many economists believe so.
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RBI set to increase interest rate
In the economist poll of news agency Reuters, 49 out of 62 economists believe that RBI can increase the policy interest rate by 0.25 percent in the monetary policy of April. After this, the rate will reach 6.75 percent, which will be the highest level in the last seven years.
The reason for this is also valid. Inflation is still a matter of concern in Asia’s third largest economy. RBI has kept the upper limit of inflation rate at 6 percent, but it has been 6.44 percent in February, while it was 6.44 percent in January.
Loan EMI will not increase for the whole year
In the same Reuters poll, most economists believed that the RBI could keep interest rates steady for the rest of the year.
Anyway, since May last year, there has been a total increase of 2.50 percent in the repo rate. If the interest rate is increased in April as well, then this figure will reach 2.75 percent.
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However, 20 out of 36 economists in the poll believed that the RBI may back down from its soft stance regarding the April monetary policy. That is, he can take a tough stand. While 16 economists were of the opinion that RBI can take a neutral stand in this matter.
Elections are near, no one should be angry
However, it can also be seen by linking it to elections. This year, along with the assembly elections in Karnataka, assembly elections are to be held in Rajasthan, Madhya Pradesh and Chhattisgarh. There will be general elections to the Lok Sabha in the country next year. In such a situation, the EMI of the loan is an important issue touching the middle class.
Source: www.tv9hindi.com”