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Concessions end, and rates rise immediately; Things to look out for

The News GlorybyThe News Glory
24/12/2021
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Highlight:

  • Borrowers pay attention
  • Investment benefits for investors

India, which has been pursuing a liberal economic policy for months due to Kovid and financial constraints in the markets, is expected to end concessions soon, the report said. Kovid second wave and Omicon are the reasons for the delay in the move to normal rates. However, sources close to the RBI have hinted that things may change at the February monetary policy meeting.

The minutes of the Monetary Policy Committee (MPC) meeting earlier this month indicate that the current policy has run out of time to revise. At the last meeting, the RBI had considered only the Omicon and inflation factors. Rates continued. At present, the repo rate in the country is 4% and the reverse repo rate is 3.35%. The investment voice has been kept accommodating to revive and sustain growth. U.S. The Fed also made it clear that the exemptions would end immediately.

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Rising rates are both an advantage and a disadvantage for the public. The RBI’s move is not good for those who want to borrow. It is better for such people to get loans before February. This is because rates are currently at an all-time low. Raising rates is good for investors. This will lead to an increase in interest income. The move is aimed at easing some of the growth concerns and focusing more on inflation. Economic activity is reported to have returned to where Kovid was before. The recovery is likely to continue for the rest of the financial year, and healthy growth is forecast for 2022-23, said JR, a professor at the Indian Institute of Management in Ahmedabad. Verma clarifies.

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Quarterly GDP The figures indicate a steady growth of the economy. GDP at constant price It grew by 8.4 per cent. In the first quarter of the current financial year, the growth was 20.1 per cent. In the October quarter, RBI According to reports, the country has achieved a growth rate of 7.9 per cent. Inflation is still a threat. The RBI has said it will use the opportunity to reduce inflation expectations if growth continues to improve. Has been clarified.

Inflation, as measured by the Wholesale Price Index (WPI), stood at 14.2 per cent in November. Inflation based on the Consumer Price Index (CPI) also crossed 4.9 per cent, exceeding 4 per cent. Under the current circumstances, inflation is expected to rise in the coming days. RBI Governor Shaktikanta Das has also hinted at a rate hike.

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