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RBI signals long wait for lower loan EMIs on cars and homes

DNMUM402536 | 12/7/2017 | Author : Manju AB | WC :474 | Business & Economy

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Mumbai: Your Equated Monthly Installments (EMIs) on home loans and car loans are unlikely to come down soon as the Reserve Bank of India (RBI) decides to keep policy rates unchanged. The central bank has raised concerns on inflation, citing upside risks from higher fuel and food, which, bankers and analysts believe, may prolong the wait for a rate cut.
Since January 2015, policy rates have seen a 2% drop and plateaued with a 0.25% cut to a six-and-a-half-year low in August. Soon after the monetary policy review was announced on Wednesday, Bank of Baroda said that it reviewed its lending rates and decided to retain them at existing levels. It clarified that it does not have any mark-up over its marginal cost-based len
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