Connect with us

Hi, what are you looking for?


Stock Market Plunges After RBI Hikes Interest Rates

PM Modi RBI RBI schemes 1636699087602 1636699089495

In a surprising move by the Reserve Bank of India (RBI), the benchmark interest rates have been hiked by 40 basis points (bps) to 4.4%. In an unscheduled press conference today, RBI Governor Shaktikanta Das announced this.

He stated that the rates were raised in response to India’s rising inflation rate. Furthermore, he stated that the Monetary Policy Committee (MPC) unanimously voted to raise policy repo rates by 40 basis points (bps) with immediate effect.

Due to the interest rate hike, EMIs are set to become costlier and would further reduce the consumption power of the middle class.

Mr Das also blamed the increase in interest rates on geopolitical tensions, high crude prices, and commodity scarcity. Due to the rise in interest rates, the stock market reacted negatively and plunged by nearly 1307 points or 2.29%.

Twitter was quick to react to RBI’s hike in interest rate,



Team NH too does have a meme for the situation:

WhatsApp Image 2022 05 04 at 3.53.10 PM



Featured image source: Hindustan Times

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


A video showing a baby with redness and cracks has gone viral, naming it ‘alien baby’ and ‘demon child’. The video claims that the...

National News

The CBI conducted investigations at 77 locations spanning 14 states, detaining ten suspects as part of a massive crackdown on online child sex abuse....


The much-awaited Khakee: The Bihar Chapter was released on Netflix on November 25 and since then Chandan Mahto, who is the main antagonist in...


Twenty days after its release, Rishabh Shetty’s ‘Kanatara’ continues to be the first choice for moviegoers. After a thundering response to the Kannada version,...