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Interest rates for Banks Short-term loans up! Unwelcome prospects of an increase in interest for housing / vehicle loans!!

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Posted on : 05/Aug/2022 12:35:20 PM



 
 

 
The Reserve Bank of India has announced that the REPO interest rate for the banks` short-term loans has been increased by 0.5%!

Repo interest, which was 4% in the month of May, has now been increased to 5.4%!

Reserve Bank of India Governor, Sasi Kantha Das, who had a session with the press in this regard, explained:

"The REPO interest rate for the banks` short-term loans has been increased by 0.5%! As such, the banks` short-term loan interest has increased from 4.9% to 5.4%!!"
 
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