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