RBI has increased the repo rate or prime lending rate by 50 basis points to 5.90 per cent.
According to RBI Governor Shaktikanta Das, revision in repo rate has been made to keep inflation levels within the target
Central Bank has been hiking repo rate and hiked rates four times since May to the recent 5.90 per cent.
The revision in Repo rates is necessary after looking at global situations and to control inflation in future
RBI has raised repo rate by 140 basis points since May which is extrememy high
Common man will be effected by these hike as
EMIs for home, car and personal loans are also likely to go up
If you are one who usually take personal loan the rate hike is worst for you because
as the cost of borrowing will go up for banks
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