RBI raises repo rate by 50 basis points

RBI Governor Shaktikanta Das The repo rate has been hiked by 50 basis points by the RBI. As of June 2022, the policy rate is 4.9 percent. However, in May 2022, the rate was raised by 40 basis points to 4.4 percent, up from 4.0 percent. The borrowers will be severely impacted by this hike in the repo rate. Loans will become more expensive, and borrowers would have to pay higher EMIs. The RBI is constantly attempting to keep inflation under control because it is their primary concern.