BusinessRBI Raises Repo Rate to 5.50%, Loan EMIs to Increase
The Reserve Bank of India (RBI) has increased the repo rate by 25 basis points to 5.50%, the first hike in nearly four years. This rate rise will make loans such as home loans, car loans, and personal loans more expensive, impacting EMI amounts for loans of 20, 30, and 50 lakh rupees, especially ahead of the festival season.
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