RBI’s sudden repo rate hike! Here are 4 major areas that will affect the common man

New Delhi: The Reserve Bank of India (RBI) has taken an unscheduled decision thereby increasing the repo rates by 40 bps to 4.40%, taking everyone off-guard.

Repo rate is the rate at which banks borrow from the RBI. The move will raise borrowing costs for corporates and individuals because it is most likely that banks are going to pass on the burden of the hike to the customers.

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