How does the RBI influence your borrowing decision by changing the repo rate
Updated: 24 Jun 2022, 11:44 AM IST
TL;DR.The cost of borrowing from commercial banks rises with a little increase in the repo rate. Loans for cars, houses, education, personal or business loans, credit cards, and mortgages are among the many types of loans that are impacted by the rate hike. For more information on how it impacts you, keep reading.
We explain here how does the RBI influence your decisions by altering the Repo rate