> TechLoans and EMIs are gonna take more than a slice of your blood sweat and toil now as RBI hiked the repo rates again. Which essentially means banks will increase their lending rates and you will have to shell out more bucks per EMI than you currently pay. The Reserve Bank of India has hiked its key repo rate by 50 basis points to thwart inflation and impending recession. Banks set their own external benchmarks on the basis of RBI repo rates and other factors. Banks are supposed to keep the lending rate above the threshold and not sink below.

Source: Economic Times August 09, 2022 12:42 UTC