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The rate hike by 35 basis points to 6.25 per cent, the fifth since May 2022 by the RBI in a bid to rein in retail inflation will also result in a rise in EMIs on veh.
Soon after the central bank Reserve Bank of India (RBI) raised the repo rate by 40 basis points, the banking sector imitated the same by increasing interest rates in lending and deposit schemes.From major banks to even small finance banks, .