Bank loan

Your loan EMIs will go further as RBI Governor hints at further hikes

New Delhi: Aam Aadmi is likely to suffer more in the coming days as the Reserve Bank of India (RBI) plans to raise interest rates further. With that, all loan IMEs are expected to be expensive. In an exclusive interview with CNBC TV18, RBI Governor Shaktkanta Das claimed that the central bank will also release a new inflation forecast at next month’s meeting.Read also – Public holidays June 2022: Banks will remain closed for 6 days in June. Control List

“Higher rate expectations are a given and policymakers aim to remove excess liquidity,” Business portal, Live Mint quoted the RBI Governor as saying. Also Read – Highlights of Modi Govt’s Key Steps to Curb Inflation | 10 dots

Earlier this month, Das announced a benchmark interest rate hike of 40 basis points (bps) to 4.40%, the first time since 2020. Also Read – RBI Recruitment 2022: Apply for an Architect, Other Publications from May 23 | Check the latest date, selection process here

Addressing an unscheduled conference on May 4, which took place against the backdrop of India’s inflation rate, Das said the Monetary Policy Committee (MPC) voted unanimously to raise interest rates. pension of 40 basis points with immediate effect based on the assessment of the macroeconomic situation. and prospects.

Das had cited rising inflation, geopolitical tensions, high crude oil prices and global commodity shortages as the reason for raising lending rates.