Rates rising, tighten your belts: EMIs to pinch more, could hit consumption, loan demand

On Friday, RBI announced another 50 basis points increase in its benchmark repo rate, which is likely to be passed on by banks to individual borrowers just like it has been over the last five months. As a result, home, car and loans for personal consumption are set to get costlier. One basis point is 0.01 percentage point.

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