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Amrit kaal
Government is launching 5g and bringing cheetahs🤣
Chief
These rise in interest rates is because Govt is trying to stabilize the value of rupee. It's the ripple effect of recession in US. When Russia-Ukraine war comes to end the situation will get better slowly. India is still comparitively in a better position than others.
I have read economics and there is a direct correlation between interest rate and inflation. Check it out!
To stabilise the currency they sell their forex reserves!
Pro
You're the minion to fight this battle. Don't forget to file your ITR 🥳🥳
Salary is increasing. Expenses are increasing. Value of rupee is going down. Inflation is going up. Are we really getting richer by higher salary. No, it's not.
Everyday items were already expensive. Now EMI outflows will also increase. Don't know how it helped..
It's normal just before the recession.
What goes up, comes down eventually.
Abhi toh or badega.
Before effects of Winter is coming!!
Same here bro...just last last oct took a homeloan @7.1 now it's more than 9%🥹
Same here :(
Chief
It's a win and lose situation for a common man. The FD returns too get increased based on the repo rate.
Chief
I don't know, I don't have that much money to put in FD nor can afford any home loan.
Pro
Took loan in march @6.55 from Kotak.. now its 7.95 and after yesterday's increase, it might move close to 8.4-8.5 😔😔
Bc is se acha toh fixed le leta @7.5 from SBI
That fixed would have also changed over time
Here....
It'll help you understand the mechanism.
https://youtu.be/PHe0bXAIuk0
Chief
Currently the government is trying to outflow money to control recession. As the world is already facing issues. This also prevents real estate bubbles which cause a lot of issues.
However common men are highly impacted with this.
To tackle this I use hedge and investment to keep up with high rates