New Delhi, Oct. 17 -- The Reserve Bank of India (RBI) recently hiked its benchmark repo rate by 25 basis points to 5.50% on 7 October 2026. This announcement was made at the culmination of the three-day Monetary Policy Committee (MPC) meeting.

Subsequently, several banks have also increased their repo-linked lending rates, thus making loans linked to these benchmarks potentially more expensive. Prominent lending institutions such as State Bank of India (SBI), Punjab National Bank (PNB), Bank of India, Indian Bank, Bank of Baroda and Canara Bank have revised their respective lending benchmarks in October 2026.

Due to these developments, existing borrowers and those planning to take fresh home loans should diligently check the latest rate...