Upcoming Exam
Home - RBI Hikes Rates in Mid Year Credit Policy, Loan Rates Goes Up

RBI Hikes Rates in Mid Year Credit Policy, Loan Rates Goes Up



Click Here - Buy Online - Great Offers Today

Reserve Bank of India (RBI) Mid Year Credit Policy has seen rise in deposit rates again. All this due to high inflation rate which is now 9.06%.

The immediate effect of this RBI credit policy will be on deposit rates of banks and higher rate of loans like Home Loan, Vehicle loan etc. Now borrowing loan from bank will be costlier.

RBI has raised the short-term lending (repo) rate by 25 basis points to 7.50% and the short-term borrowing (reverse repo) rate will move up by a similar margin to 6.5%. It kept other rates and ratios unchanged.

This move of RBI will effect on growth rate.


[Read : Impact of RBI Credit Policy]

Get Daily Job Updates, Enter your email address:

Leave a Reply

Be the First to Comment!

Your Question

  Subscribe  
Notify of
x

Check Also

Failed Bank PSB

Are Incapable Staff, a Reason to Public Sector Banks Failure ?

Almost all the Public Sector Banks in India including State Bank of India are reeling ...