Loans to get costlier as PNB, Indian Bank, Bank of Baroda, others raise rates after RBI repo rate hike
Several major Indian banks, including PNB and Bank of Baroda, have increased interest rates on loans following a repo rate hike by the Reserve Bank of India. This move is expected to make borrowing more expensive for consumers and businesses.
Why it matters
Rising interest rates directly impact consumer spending power and corporate investment, signaling a tightening of monetary policy in the Indian economy.
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