IndiaInsurance
6th May 2022, 11:53 AM
https://img.etimg.com/photo/91365328.cms (https://economictimes.indiatimes.com/wealth/borrow/how-much-your-home-loan-emi-will-increase-after-rbis-40-bps-repo-rate-hike/articleshow/91365328.cms)In an off-cycle meeting, the Reserve Bank of India hiked the key policy rates (repo rate and standing deposit facility) by 40 basis points. The hike was done to deal with changing macroeconomic conditions and higher inflation. A hike in the repo rate would mean a hike in the interest of loans, especially for home loan borrowers. The interest rate on home loans is linked to an external benchmark such as repo rate.
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