Banking Central | What does the RBI rate hike mean for the common man - Moneycontrol

Rising interest rates are both bad news and good news for customers. For borrowers, EMIs will become costlier as banks adjust rates while for depositors returns on their fixed deposits will be more.

In an unscheduled press conference on May 4, Reserve Bank of India (RBI) Governor Shaktikanta Das announced a 40 basis point hike in repo rate and 50 bp rise in cash reserve ratio (CRR). Repo is the … [+3491 chars]

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