New Delhi, Aug. 6 -- After slashing the repo rate in the past three monetary policy committee (MPC) meets, the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.5 percent on Wednesday.
As we know, repo rate and interest rates go hand in hand. This means when theRBI cuts the repo rate, banks typically follow suit by movinginterest rates in the same direction.
So, when the repo rate is kept unchanged, what impact will it cause on the lending interest rates? Typically, the repo rate has the highest impact onhomeloans and car loans since they are disbursed at variable interest rates. But does it have any impact onpersonal loan interest rates as well?
Let us find out.
To be able to understand the impact of the repo rate on home...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.