Page 4 - Atul Monga News Today : Breaking News, Live Updates & Top Stories | Vimarsana

It's widely believed that the RBI will resort to a smaller 25 basis points (bps) rate hike in the current monetary policy revision. After the last revision that happened in February this year, the repo rate has increased to 6.25 per cent. The continuous rise in the interest rates has led to higher EMIs for home loan buyers hugely impacting the housing segment. -- aaa

As per RBI's latest data, the weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 24 basis points (bps) from 9% in January 2023 to 9.24% in February 2023. While WALR on outstanding rupee loans of SCBs increased by 9 bps from 9.58% in January to 9.67% in February.

While the rate hike was along expected lines, the industry stakeholders including borrowers were hoping for some relief from the Union budget

While the rate hike was along expected lines, the industry stakeholders including borrowers were hoping for some relief from the Union budget

Among the most expected factor for home buyers, this budget 2023 would be the increase in deduction limit for interest payments and principal amount on home loans especially to spur demand in a rising interest rates scenario.