After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook.
RBI Governor Shaktikanta Das however pledged to hike interest rate
As the RBI kept the repo rate unchanged, existing home loan borrowers should assess their current liabilities and devise strategies to prepay the loan.
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