scorecardresearchExplained: Why RBI's interest rate hike should matter to you

Explained: Why RBI's interest rate hike should matter to you

Updated: 05 Aug 2022, 12:18 PM IST
TL;DR.
The increase in borrowing rates caused by the RBI's hike in the repo rate will have a detrimental impact on consumers as EMIs and loans might become more expensive.
The Monetary Policy Committee (MPC) unanimously resolved on Friday, 5 August, to raise the repo rates by 50 basis points to 5.4 percent.

The Monetary Policy Committee (MPC) unanimously resolved on Friday, 5 August, to raise the repo rates by 50 basis points to 5.4 percent.