RBI MPC Meet: The MPC meeting of the Reserve Bank of India is going to be held next week. In this meeting also, RBI can increase the repo rates. It is believed that in the monetary review policy meeting to be held next week, another increase of 0.40 percent can be done in the rates.
When can the next meeting be held?
Let us tell you that the next meeting can be held from June 6 to June 8. RBI’s Monetary Policy meeting will start for 3 days from June 6, 2022. And on June 8, the decision taken in the monetary policy will be announced.
The last meeting was held on 4 May
Let us tell you that after the monetary policy meeting on May 4, the RBI suddenly increased the repo rate by 40 basis points to 4.40 percent and the cash reserve ratio by 50 basis points from 4 percent to 4.50 percent. However, the increase in CRR is going to be implemented from May 21. After which the cash present in the banks system will decrease.
Increase in loan rates
Since the 40 basis point increase in repo rates by RBI, government and private banks have continuously increased the rates of all types of loans from home loans.
EMI will be more expensive in future
Let us tell you that the EMI of the customers who have already taken loan is getting expensive and the process of getting expensive EMI is not going to stop even after the June meeting. In June, RBI will again increase the repo rates, after which your EMI will become even more expensive.
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