Reserve Bank of India to review Interest Rates
Reserve Bank of India is expected to revise the prevailing interest rates as its the policy time review for this prevailing year. This has set a record as this marks the interest rate hike for 13th time in around 19 months. This Diwali is sure to dampen the property buyers dream if they had plans of buying home loans. A chief executive of a public sector bank reported saying that in at all RBI declares hike, Equated Monthly Installments (EMI) is sure to witness excessive hike. Harshpati Singhania the managing director of JK Paper Ltd reported over the same issue saying that RBI shows no sign of increasing the interest rates, meanwhile its focused on controlling inflation which has not succeeded till now. Loan borrowers have turned dumb with rapidly increasing interest rates.
Source: Hindustan Times
Equated monthly installments, Home loans, Interest rate, Loan Borrowers, Property Buyers, Reserve Bank of India
