RBI Rate Hike Pushes Up Home Loan EMIs as Policy Turns More Restrictive
The Reserve Bank of India has raised its policy rate, immediately increasing borrowing costs for households and businesses and putting fresh pressure on home loan EMIs. The Monetary Policy Committee voted unanimously for the move and adopted a stance of calibrated tightening, while Governor Sanjay Malhotra signalled that rate cuts are not under consideration for now.
