RBI: Get ready, your EMI is going to increase again, and the burden on your pocket will increase
If you are also thinking about taking a loan or your loan is going on, then get ready to bear the brunt of inflation once again. This is being said because the meeting of the Monetary Policy Committee of RBI has started today. In such a situation, the repo rate may increase once again.
Let us tell you that the six-member panel, including Governor Shaktikanta Das, will announce the first monetary policy of FY 2024 at the end of this week, and once again the repo rate may increase by 25 bps.
If the repo rate increases, then it is sure to put a burden on your pocket again. The next review meeting of the Monetary Policy Committee will be held on 3, 5, and 6 April. There will be no meeting on April 4 due to Mahavir Jayanti and after that, it will be announced.
With the increase in the repo rate, the loan interest in banks will also increase. In such a situation, the pressure of monthly installments will increase on the people.