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Reserve Bank hikes repo rate: Home and car loan rates likely to rise
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News18•07-10-2026, 10:40
Reserve Bank hikes repo rate: Home and car loan rates likely to rise
- •The Reserve Bank of India monetary policy meeting was held in Mumbai under the leadership of RBI Governor Sanjay Malhotra.
- •The repo rate has been increased by 25 basis points, setting it at 5.50 percent.
- •As a result of the repo rate hike, interest rates on home and car loans are expected to increase.
- •The Reserve Bank has increased the repo rate for the first time since February 2023.
Key Questions Answered
The Reserve Bank of India increased the repo rate by up to 25 basis points, fixing it at 5.50 percent.
The monetary policy meeting in Mumbai was headed by RBI Governor Sanjay Malhotra.
Due to the hike in the repo rate, the interest rates on home and car loans are likely to increase.
