look news india
RBI has not cut interest rates. Central Bank Governor Shaktikanta Das announced the monetary policy on June 7 at 10 am. He said that the RBI's Monetary Policy Committee has decided to keep the repo rate at the current level of 6.5 percent. This is the 8th consecutive monetary policy, when the central bank has not made any change in the repo rate. This means that at present the EMI of home loan is not going to decrease. However, this was already expected.
Good news may come by the end of this year
Experts say that the central bank (RBI) has not cut the repo rate, but it can cut interest rates by the end of this year. There are many reasons for this. The biggest reason is that RBI is keeping an eye on the activities of the US central bank in terms of interest rates. Interest rates are expected to come down in the US by the end of this year. After this, RBI can take a decision to reduce the repo rate. The condition of the local economy also seems to be in its favor. This year the monsoon rains will be good. This will affect the production of the agricultural sector. In a way, this will also increase the production of grains apart from fruits and vegetables. This will have a positive impact on real food inflation. The retail inflation rate will reach the RBI target.
The health of the domestic economy remains good
The growth of the Indian economy has been good. Good monsoon will also boost growth. At the same time, the figures related to the economy are also looking good. In such a situation, RBI can reduce the interest rate by the end of this year. Experts say that good growth has been seen in real estate. The reduction in home loan interest rates will boost the real estate sector. Which will have a direct impact on the economy. The real estate sector is one of the sectors that has the potential to create maximum employment opportunities. In such a situation, the reduction in repo rate will increase the growth of this sector.
Home loan interest rates have increased despite the repo rate remaining stable
HDFC Bank has increased home loan interest rates by 40 basis points for new customers despite the repo rate remaining unchanged. In January this year, the lowest interest rate on a home loan of Rs. 50 lakh was 8.35 percent. Now it has increased to 8.75 percent. According to Paisa Bazaar, SBI and Bank of India have also increased interest rates on home loans. The interest rate on a home loan of Rs. 50 lakh is 8.40 percent and 8.30 percent respectively.
