As banks raise lending rates, home loans become more expensive.
The Reserve Bank of India (RBI) announced repeated upward adjustments to the repo rate – the rate at which it loans money to banks – in 2022. Not surprise, the present repo rate is 5.4 percent after three revisions this year since April 2022. Such similar increase is on the way to counteract inflation. This time, the RBI may raise the repo rate by 35-50 basis points, bringing it to around 6%.… Read more