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RBI hikes repo rate to fight inflation; home loan EMIs may rise

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  • Published On: October 29, 2013
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Reserve Bank of India Governor Raghuram Rajan on Tuesday announced a 25 basis points (0.25 per cent) hike in repo rate or the benchmark rate as widely expected. The RBI's move may force banks to increase interest rates on loans leading to higher EMIs (equated monthly installments) for existing home loans and costlier retail loans for new customers.
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