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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.

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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.

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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.

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Fact check: IRCTC to charge full ticket for 1-year-old?

According to the reports, Indian Railways has changed the rule regarding the purchase of tickets for children travelling in trains who are one year old.

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Indian Railways

Recent media reports assert that Indian Railways has changed the rule regarding the purchase of tickets for children travelling in trains who are one year old.

According to the reports, there has been a recent change to the IRCTC website’s ticketing policies where passengers with children under the age of five will have to pay the full fare of tickets while booking train tickets.

The new policy of train tickets for children has yet not officially been confirmed and is being rumoured about by many people and news agencies.

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While making tickets for children between the age of five to 11 years, there is an option that has given whether they will take full berth or not. Children in the age group of 5 to 11 years are charged full fare only on taking a berth. Whereas if you do not take a berth, you have to pay only half the rent. Now the news came that railways have started ticket booking for children between the age of one to four years, which is still not confirmed by the IRCTC.

The Passenger Reservation System has not put any option of not taking a berth after filling the names of children between the age of one to four years. Despite the young age, the system does not object. In such a situation, as soon as the name is filled in the application form, the railway is issuing tickets for children between the age of one to four years by charging a full fare.

Disclaimer: The post is being widely circulated on the Internet. APN News doesn’t vouch for the veracity of the claim mentioned in the above post.

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Mass Murder or Suicide? 6 people of the same family found dead in Jammu & Kashmir’s Sidra

Jammu and Kashmir police have appointed a special 4 member Investigation Team (SIT) which will be headed by SP Rural Sanjay Sharma.

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Jammu & Kashmir Mass Murder case

In a shocking incident of Jammu & Kashmir, six people of the same family have been found dead in Sidhra area.

Reports claim that the gates and doors of the house was locked from the inside when police officials arrived at the spot. As per the initial investigation, it does seem to be a case of mass suicide by consuming poison. 

According to the police investigation, the incident took place on Tuesday night, around 10 pm. The Police rushed to the spot after receiving a phone call from the neighbours and they found six dead bodies from two neighbouring houses. The deceased has been identified as Sakina Begum with her two daughter, Nassema Akhter and Rubina Bano, along with a son Zafar Salim and relatives Sajad Ahmed and Noor ul Habib.

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 However, the cause of the death remains ascertained yet but the it is suspected to be a case of suicide as the door of the house was closed from inside.

Moreover, the dead bodies have been now sent for post-mortem. And

Jammu and Kashmir police have appointed a special 4 member Investigation Team (SIT) which will be headed by SP Rural Sanjay Sharma.

As soon as the news got spread in that area, sensation was noticed in Sidra area of J&K, and the two police officials are also asked to stay at the spot.  

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UP’s capital reports theft of chocolate worth 20 lakh from Cadbury godown, FIR filed

The businessman has lodged an FIR in Chinhat police station of Lucknow.

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theft theft

A unique theft case has come to light from the Devraji Bihar area of Chinhat from the capital of Uttar Pradesh, Lucknow. A theft case of chocolate worth Rs 20 lakhs has been reported this morning.

The thief stole Cadbury’s chocolates of about 20 lakhs stored in the home-made warehouse.

Reportedly, in the absence of Cadbury dealer Rajendra Kumar, the thieves installed a loader outside the house and got into a scuffle after loading chocolates that would cost around Rs 20 lakh.

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Not only this, the thieves also took the DVR of the CCTV camera installed in the warehouse with them so that they could not be identified. The businessman has lodged an FIR in Chinhat police station of Lucknow.

It is being told that businessman Rajendra Singh Sidhu currently lives in Omaxe City, Lucknow with his wife. But he used to live in Chinhat 2 months ago. And now the house has been transformed in a warehouse, and all his consignment was being stored there.

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