Reserve Bank of India: Reserve Bank of India can again give a big blow to the people, repo rate may increase again, loans will become expensive

People may once again get a shock of inflation from the Reserve Bank of India. If the news is to be believed then in the meeting of the Monetary Policy Committee to be held in April, RBI may announce an increase in the interest rates.

Due to the retail inflation rate in India going above six percent, RBI can take this big step.

In the first meeting of the Monetary Policy Committee for the financial year 2023-24, which will run from April 3 to April 6, RBI may continue to increase the repo rate.

According to experts, in this meeting, the RBI may decide to increase rates by 25 basis points. With this move of RBI, all types of loans including home loans, car loans, and personal loans will become costlier. People will have to pay more EMI. If the repo rate increases by 0.25 percent or 25 basis points, it will increase to 6.75 percent.