What RBI’s neutral repo rate hike means for you
A neutral rate hike by the Reserve Bank of India means that bank loans will attract higher interest rates but fixed deposits will fetch better returns
The Reserve Bank of India (RBI) increased the benchmark repo rate to 6.25% by 25 basis points (bps) on Wednesday after over four years. The last rate hike came in January 2014, when rates went up from 7.75% to 8%.
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