While interest rate-sensitive segments of affordable and low-income housing have started witnessing some impact of the rate hikes implemented earlier, any further increase may have resulted in hitting the demand in this segment.
Equated monthly instalments (EMIs) of home, vehicle and other loans are expected to remain steady for the time being. The inflation projection has been hiked from 5.1 per cent to 5.4 per cent for FY2024, with high food inflation.
Banks shall maintain an incremental CRR of 10% on increase in deposits between May 19 and July 28, with effect from the fortnight starting Aug. 12, RBI Governor Shaktikanta Das said in his monetary policy announcement.
RBI Monetary Policy August 2023: Shaktikanta Das said that the headline inflation after reaching a low of 4.3 per cent in May 2023, rose in June and is expected to surge during July and August, led by vegetable prices.