RBI Raises Repo Rate by 25 Basis Points, First Hike Since 2023
The Reserve Bank of India (RBI) has increased the repo rate by 25 basis points, marking the first interest rate hike since 2023. This move aims to control inflation, leading banks to raise their lending rates and fixed deposit interest rates. The increase will impact EMIs on home loans, making borrowing costlier for borrowers.
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