RBI Hikes Repo Rate, Banks Increase Loan Interest Rates
The Reserve Bank of India (RBI) has raised the repo rate to control inflation, prompting several banks including PNB, Bank of Baroda, and Indian Bank to increase their loan interest rates. This hike affects EMIs, making loans more expensive. Additionally, fixed deposits (FDs) will offer higher returns due to the increased repo rate, benefiting investors over the next five years.
Aaj Tak·



