2023-07-12 16:46:26
#Business Correspondent
Kochi: The price of food products is rising dangerously. The possibility of a reduction in the main interest rate of the four states is fading. Amidst severe uncertainties in the global sector, the Indian economy Measures to control inflation as sector grows better Reserve Bank Governor including Reserve Bank Governor is of the view that the steps should be continued. The senior officials of
Challenges including climate change make the state diverse. Productivity declines in agricultural sectors The prices of vegetables, fruits, fish and meat are low due to the drought. What is creating a headache for the Central Bank is emerging as a concept. In the current situation, if the interest rate is reduced, the state will impose an extreme ban. Experts warn that it will move to the top.
From February last year, including essential items Aiming to control inflation as prices continue to rise The Reserve Bank has been continuously increasing interest rates. To regulate the use of less money in the market The target of the Reserve Bank. The main repo rate was 2.5 per cent for the last six times in May last year. The Reserve Bank raised the same amount. With this, the State Government’s Home, Vehicle, Personal and Corporate Loans Banks have increased interest rates by three to four percent.
Despite the huge interest rate hike, inflation remains a threat. In the loan review meeting held by Rayatathi last month, Experts in the banking industry say that there will be no change in the interest rate. Ray. Interest rates on loans have increased sharply over the past year. The banking sector of the state is facing tough competition. Come with economic sector recession moving towards similar scenario. Low loan requirements and high interest rates for borrowers. The banking sector is adversely affecting the profitability of banks. Those in say.
Currently, many banks offer long-term fixed-term loans. The interest rate is as low as 8.1 percent. Repo bids expire in June this year Because of this, a large amount of tax goes into the government’s account. The supply of money in the market is likely to decrease sharply due to the gap in Economic experts also point out. Therefore, if the repo rate is raised once more, the state’s industry and service sector There is a strong fear that the economy will move into a deep recession.
Since price hikes are not fully controlled, before Dec. Dhankarya V says that the Reserve Bank is not going to relax the interest rate. Experts say.
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