What Is Repo Rate? How Does RBI's Latest Decision Affect Your EMIs? EXPLAINED
The repo rate in India refers to the rate at which the Reserve Bank of India (RBI) lends money to commercial banks (Pic: Canva Pro)
What is repo rate?The repo rate in India refers to the rate at which the Reserve Bank of India (RBI) lends money to commercial banks when they face a shortage of funds. If the repo rate is increased, borrowing from the central bank becomes more expensive for the banks. As a result, these commercial banks may raise the interest rates for their customers. This, in turn, can lead to a decrease in household spending across the country, as people have less money to spend.
How are your EMIs affected this time?
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