English हिन्दी
Connect with us

India News

RBI increases repo rate by 50 bps to 4.90 per cent, know what impact it will have on your home loan EMIs

RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points and this is likely to have direct impact on the pocket of EMI holders.

Published

on

Shaktikanta Das

In the Reserve Bank of India’s conclusion meeting of Monetary Policy, the RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points. This increase is happening for the second time in five weeks. With this, now the RBI has increased the repo rate to 4.90 per cent.

As the repo rate has increased, will it have a direct impact on people who have EMIs? Yes, as the repo rate hike will make EMIs costlier. The increase in repo rate has a direct impact on interest rates on house loans, car loans, and personal loans.

What impact does the increase in repo rate have on EMI holders?

When the RBI’s policy rate increases due to this there is a higher cost of funds for banks. And, because of this, banks also raise interest rates and that directly impacts the pocket of the EMI holder and the monthly instalment also gets costlier because of this.

Read Also: Lucknow: Teenager killed mother over stopping him from playing mobile game, used air freshener for 2 days to hide foul smell

The RBI has been increasing the repo rate to tackle inflationary pressure. RBI governor Das also said that India’s recovery has also gained momentum and the withdrawal of accommodation started during the pandemic.

He also said that inflation has steeply increased much beyond the tolerance level. The process of recovery in emerging market economies is also getting affected. But the Indian economy has remained resilient. Das further said that they have started a gradual withdrawal of the extraordinary accommodation. RBI will continue to be proactive and decisive in mitigating the fallout of the geopolitical crises on our economy. Their steps will be measured and calibrated.

Das said that the RBI will remain focused on bringing down inflation with the target. He also talked about the geopolitical situation and said that the ongoing war has turned out to be a dampener on global trade and growth. Domestic economic activity is gaining traction while inflation pressures have intensified faster. Inflationary pressures have become broad-based and remain largely driven by supply shocks.

It is National Best Friends Day but THESE signs are indications that they really are not your best friend

World Brain Tumour Day 2022: How deadly are brain tumours in children? Know its symptoms, treatment

India News

Tamannaah Bhatia summoned in illegal IPL streaming app case, to appear before cyber cell on April 29

Actor Tamannaah Bhatia has been summoned for allegedly promoting the viewing of the IPL matches on the Fairplay betting app.

Published

on

Actor Tamannaah Bhatia has been summoned by the Maharashtra Cyber Wing to appear for questioning for the illegal streaming of the 2023 Indian Premier League on Fairplay App, a sister app of the Mahadev betting app.

On April 29, the actor is scheduled to appear before the Cyber Cell for interrogation.

In the same case, rapper and singer Badshah was questioned earlier. In addition, actor Sanjay Dutt was also summoned in the same case this week on Tuesday, but he has requested an extension of time to appear before the department.

Even though the Fairplay app lacked official broadcasting rights, all of these actors and singers encouraged users to watch the Indian Premier League, which cost official broadcasters a lot of money.

An FIR was filed in September of last year in response to a complaint made by Viacom18, the company that owns the intellectual property rights (IPR) for streaming Indian Premier League games. According to the complaint, Viacom18 lost over Rs 100 crore as a result of the betting app Fair Play platform illegally streaming IPL matches on their platform.

Many celebrities, including Badshah, Sanjay Dutt, and Jacqueline Fernandez, were summoned for questioning after the filing of the FIR. An employee of the betting app was taken into custody in December of 2023.

A platform for betting exchange, FairPlay provides a large selection of sports and entertainment betting for leisure players.

The most popular sport on FairPlay, according to the app’s website, is tennis, football, and cricket.

According to the website, FairPlay streams every sporting event live so that users can watch and win at the same time.

Actors Ranbir Kapoor and Shraddha Kapoor, who had starred in advertisements for the Mahadev betting app, made news last year when the Enforcement Directorate (ED) called them in for interrogation.

Continue Reading

2024 Lok Sabha Elections

Mallikarjun Kharge vows to continue politics till his last breath to defeat BJP

The 81-year-old Congress leader was speaking at a election rally in Afzalpur and said that if the people did not vote for the Congress candidate, he would think that he did not have any place in Kalaburagi anymore.

Published

on

Congress President M Mallikarjun Kharge on Wednesday appealed to the people of Kalaburagi to at least attend his funeral if they thought he worked for them even though they do not wish to vote for Congress in the ongoing Lok Sabha elections.

The 81-year-old Congress leader was speaking at a election rally in Afzalpur and said that if the people did not vote for the Congress candidate, he would think that he did not have any place in Kalaburagi anymore. The Congress President sought an emotional chord with the people of his home district of Kalaburagi, Karnataka

The grand old party has fielded Kharge’s son-in-law Radhakrishna Doddamani from Kalaburagi, against BJP’s sitting MP Umesh Jadhav. Kharge had won the Lok Sabha elections from Kalaburagi in 2009 and 2014, but lost in 2019. He appealed to the voters to vote for Congress but at least come to his funeral if they thought that he had done some work in Kalaburagi. Kharge added that he would continue in politics till his last breath to defeat the BJP and RSS ideology.

The Congress leader said he is born for politics and whether or not he contests the election, he will continue to strive till his last breath to save the Constitution and democracy of the country. He asserted that he will not retire from politics. Kharge said that retirement happens from a position but one should not retire from his/her principles. He said he is born to defeat the ideology of the BJP and RSS and not to surrender before them.

He advised Karnataka Chief Minister Siddaramaiah, who shared the stage with him, to follow his principles. He said he had told Siddaramaiah many times that he may retire as CM or MLA, but he cannot retire from politics till he defeats the ideology of the BJP and RSS.

Continue Reading

2024 Lok Sabha Elections

Nitin Gadkari says he’s better now after collapsing at election rally in Maharashtra’s Yavatmal

A disturbing video of the incident – which was unfortunately streamed live on X (formerly Twitter), including by his own account – showed Nitin Gadkari being carried away by those on stage, many of whom rushed to form a shield around the BJP leader to give him, and those treating him, some privacy.

Published

on

Union Road Transport and Highways Minister Nitin Gadkari collapsed while speaking at an election rally in Maharashtra’s Yavatmal on Wednesday afternoon. Fortunately, the senior Bharatiya Janata Party leader received prompt treatment and was able, after a brief pause, to get back up on stage and continue his speech.

A disturbing video of the incident – which was unfortunately streamed live on X (formerly Twitter), including by his own account – showed Nitin Gadkari being carried away by those on stage, many of whom rushed to form a shield around the BJP leader to give him, and those treating him, some privacy.

Nitin Gadkari took to X and informed that he felt uncomfortable due to the heat during the rally in Pusad, Maharashtra. But now he is completely healthy and is leaving for Varud to attend the next meeting. He thanked his supporters and well wishers for their love and good wishes.

Gadkari, who fought the elections in the first phase of voting as BJP’s candidate from Nagpur Lok Sabha seat, was campaigning for Eknath Shinde-led Shiv Sena leader Rajashree Patil in Yavatmal’s Pusad. Addressing the rally, the union minister said, he was confident that the people of Yavatmal district, which has a constant tendency towards development, will give victory to the BJP-Maha alliance, which believes in all-round development.

Gadkari posted on X that as the nation moves towards a developed India, under the leadership of Prime Minister Narendra Modi, significant work has been done in the last 10 years in the areas of roads and highways as well as health, education and other sectors across the country. He said many schemes of the central government were successfully extended to the rural areas. Due to this, along with the city, the people of the rural areas are also able to benefit from many important facilities.

The Yavatmal constituency along with Akola, Buldhana, Amravati, Hingoli, Wardha, Parbhani and Nanded in Maharashtra are scheduled to vote in the second phase of the Lok Sabha election on April 26.

Continue Reading

Trending

-->

© Copyright 2022 APNLIVE.com