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Loan EMIs May Go Up As RBI Announces Sixth Straight Lending Rate Hike


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The Reserve Bank of India (RBI) recently announced the sixth consecutive hike in its lending rate, which is likely to increase the burden on borrowers. The repo rate, which is the rate at which the RBI lends to banks, has been increased by 25 basis points (bps) to 6.25%. This means that loans taken out by individuals and businesses will become more expensive. As a result, Equated Monthly Installments (EMIs) on loans are likely to go up. This will be felt most acutely by those who have taken out home loans, car loans and personal loans. The higher interest rates will mean that borrowers will have to pay more for their EMIs each month. The RBI’s decision to hike its lending rate is in line with its efforts to contain inflation. Inflation has been on the rise in recent months, and the RBI is hoping that the rate hike will help to bring it down. The decision to hike the repo rate will also have a bearing on the stock market. Higher interest rates tend to make stocks less attractive, as investors look for higher returns on their investments. This could result in a fall in stock prices. The RBI’s decision to increase the repo rate could also lead to a rise in deposit rates. This could be beneficial for savers, as banks are likely to offer higher returns on their deposits. It remains to be seen how the RBI’s decision to hike its lending rate will affect borrowers and savers. It is likely that loan EMIs will go up, while deposit rates may also increase. In any case, borrowers and savers should keep a close eye on interest rate movements in the coming months. https://inflationprotection.org/loan-emis-may-go-up-as-rbi-announces-sixth-straight-lending-rate-hike/?feed_id=73011&_unique_id=63f6f880eccf9 #Inflation #Retirement #GoldIRA #Wealth #Investing #2023Budget #AdaniShares #BBCDocuseries #budget #Budget2023 #Budget2023Highlights #Budget2023Live #Budget202324 #IncomeTaxSlab #IndiaBudgetLiveUpdates #inflationprotectedsecurities #inflationprotection #NDTV24x7 #ndtvlive24x7englishnews #Ni #NirmalaSitharaman #protectionagainstinflation #RahulGandhi #UnionBudget2023 #Unionbudget2023live #wealthprotection #InflationHedge #2023Budget #AdaniShares #BBCDocuseries #budget #Budget2023 #Budget2023Highlights #Budget2023Live #Budget202324 #IncomeTaxSlab #IndiaBudgetLiveUpdates #inflationprotectedsecurities #inflationprotection #NDTV24x7 #ndtvlive24x7englishnews #Ni #NirmalaSitharaman #protectionagainstinflation #RahulGandhi #UnionBudget2023 #Unionbudget2023live #wealthprotection
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