RBI Repo Rate | RBI Hikes Repo Rate After 3 Years: How Will It Impact You?
NDTV
The brief
One of the places that banks in India can borrow some money from is the Reserve Bank of India (RBI). The central bank then charges interest on the money it lends to the banks. When the RBI raises the repo rate, it affects a large section of people from consumers to businesses because banks will have to repay what they borrowed with more interest to the RBI, and banks pass on some of that burden to its customers. Toda…
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