Loans set to get dearer as RBI hikes repo rate after 44 months
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The Reserve Bank of India has announced a 25 basis points increase in the repo rate to 5.5%. This decision reflects growing inflation pressures and stronger than anticipated economic growth. The rise in interest rates will lead to higher loan EMIs, impacting consumption during the festive season. Banks are expected to increase fixed deposit rates following this policy change. What's Your Reaction?
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