After 3.5 years, RBI hikes repo rate: How does it impact your EMIs? Explained
The Reserve Bank of India raised the repo rate by 25 basis points, the first increase in 3.5 years, to combat rising inflation. This decision will likely lead to higher EMIs for loans, impacting Indian households already facing increased costs due to inflation. The RBI aims to maintain inflation below 6% amid ongoing economic pressures.