Impact of Repo Rate Changes During COVID-19 on Source of Income and Ease in Availing Loans on General Public in India

Abstract

The repo rate has a significant influence on a nation's economy because it is essential for managing cash flow in the market. The repo rate is governed and controlled by Indian monetary policy in accordance with market liquidity and inflation cash flow thereby the nation's inflation is significantly controlled by repo rates. It is due to this broad repo rate impact that there comes a necessity to assess how the changes during the pandemic period would affect the people. Survey based questionnaire was used to collect responses from 200 members across India. Analysis of the data collected were interpreted using regression, correlation and ANOVA. The findings of the study brought into view that source of income had been affected due to repo rate changes during COVID-19 period (2019-2021) and there was difficulty for people in availing loan during the aforementioned time frame.