How RBI repo rate hike may impact fixed deposit, loan & real estate industries?10 min read . Updated: 08 Feb 2023, 03:24 PM IST
- As highly anticipated, the Reserve Bank of India raised its key repo rate by 25 basis points (bps) to 6.50% on Wednesday.
As highly anticipated, the Reserve Bank of India raised its key repo rate by 25 basis points (bps) to 6.50% on Wednesday. The Reserve Bank of India (RBI) has increased interest rates six times since May of last year, for a total hike of 250 basis points. From this declaration, it is clear that India will maintain its sustainable growth with price stability on the back of GDP growth projection of 6.4% and an inflation projection of 5.3% for FY 2023-24. However, experts claim that the RBI's move to raise the repo rate will have an effect on the fixed deposit, lending, and real estate sectors. Let's take a closer look at that.
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