This increase, however, is applicable only to newly sanctioned loans and not existing loans, which means older borrowers will not be impacted by these hikes.
Financial analysts anticipate that the key policy rates will likely remain unchanged, given the gradual convergence of inflation towards the RBI’s target level and the upward trajectory of economic growth. Individuals looking to secure loans can find relief in the absence of imminent rate hikes.
RBI MPC 2023 latest: The central bank has proposed to hike the limit of UPI transactions in hospitals and educational institutions to Rs 5 lakh, says Governor Shaktikanta Das.