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After RBI's Lending Rate Hike, Home, Auto Loans To Be Expensive
RBI lowered the country's GDP growth projection for the current fiscal to 6.8 per cent.(File) The Reserve Bank today expectedly raised the benchmark lending rate by 35 basis points (bps) - the fifth increase since May - saying it remains focussed on bringing down the inflation to a tolerable limit. The move to raise the rate will make loans -- including housing, auto -- and corporate credit expensive. RBI Governor Shaktikanta Das said the central bank remains nimble and flexible in its approach to deal with the price situation. Concerning economic growth, the RBI has slashed its GDP forecast to 6.8 per cent from an earlier estimate of 7 per cent for the current fiscal. Source - NDTV #rbi
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