RBI Hikes Interest Rates Again To Curb Inflation

Richa Srivastava, a homemaker in Noida, is worried about her loan EMIs going up as the Reserve Bank of India (RBI) announced its 6th straight interest rate hike to control inflation, taking rates to the highest level since 2018. The latest rate hike adds to an already rising loan and deposit rates as the RBI has announced 6 straight interest rate hikes, increasing interest rates by 250 basis points in one year. Though the pace of the hikes is falling since December, the RBI Governor signaled that rate cuts might not happen soon.