In an off-cycle meeting, RBI hiked 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.from Personal Finance News-Wealth-Economic Times https://ift.tt/JZx9V5t
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