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RBI did not make any change in interest rates, know what it means for your pocket!

RBI Monetary Policy: RBI has announced the first bi-monthly loan policy review for the financial year 2022 23, in which no change has been made in interest rates. Announcing the ministerial policy, the RBI governor said that the repo rate has been kept at 4 percent, which means that the possibility of the interest rate becoming expensive in view of rising inflation has stopped for the time being. Those who have taken a loan from the bank, their EMI is not going to be expensive at the moment and those who are thinking of taking home loan or coral loan will continue to get the benefit of cheap loan for the time being.

Loan will be cheaper for now
Property developers may be increasing the prices of houses, automobile companies may be increasing car prices Educational institutions may be making education fees but due to the decision of RBI not to change the interest rates for home loans, car loans or Education loan is not going to be expensive at the moment.

Rising inflation became a cause for concern
However, for how long this situation continues, questions are now being raised because RBI Governor Shaktikanta Das, while announcing the monetary policy, has estimated inflation at 5.7 percent for 2022-23, which is 4.5 percent in 2021-22. Was. However, at present the retail inflation rate is much higher than the RBI’s estimate of 6 per cent. Inflation is likely to pick up due to higher commodity prices.

Loans may become expensive in the coming days
The RBI governor has clearly said that now the priority of the central bank is to check inflation. This means that in view of rising inflation, RBI can make the loan expensive in the coming days, it is believed that when the RBI announces the next loan policy, there will be a change in the interest rates and the loan can also become expensive. This can also be indicated by the fact that banks are continuously increasing interest rates on deposits but not on loans. But increasing interest rates on savings means that the loan is also bound to be expensive in the coming days.

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