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Business

RBI’s decision not to change the repo rate

Big relief to borrowers
Mumbai, Dt. 9
The Reserve Bank of India’s Monetary Policy Committee meeting was held recently.

According to the decision taken in this meeting, Reserve Bank has decided not to change the repo rate. In such a situation, the borrowers have got a big relief as the loan installment of the borrowers will not increase.

In the second policy meeting of the current financial year, the RBI did not change interest rates for the second time in a row. Earlier there was no increase in interest rate even in the month of April.

The last increase in the repo rate was in February. The rate at which RBI lends money to banks is called repo rate. As repo rate increases, banks get loans from RBI at expensive rates.

This increases interest rates on home loans, car loans and personal loans, etc., which directly affects EMI.


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