Lagatar24 Desk
New Delhi, Dec 7: The repo rate was raised by the Reserve Bank of India (RBI) by 35 basis points on Wednesday, reaching 6.25 percent. The most recent central bank decision may result in higher EMI payments for loans for homes, vehicles, and other types of debt.
Amid growing concerns about the state of the world economy, the RBI has been increasing repo rates in an effort to control inflation. Based on the evaluation performed during the meeting of the Monetary Policy Committee, the current decision was made.
In September, the apex bank raised the repo rate by 50 basis points (BPS), bringing it to 5.9%.
In August, the RBI raised the repo rate by 50 basis points (bsp) to 5.4 percent as part of its off-cycle monetary policy review.
The policy repo rate was raised by the RBI earlier in May by 40 basis points, or 0.40 percent, to 4.40 percent. The rate was then raised by another 50 basis points by the RBI in June, bringing it to 4.90 percent.
