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Home loan EMIs likely to increase as RBI hikes repo rate

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The woes of home loan borrowers will continue as the Reserve Bank of India (RBI) hiked the repo rate yet again in its bi-monthly monetary policy review. On Wednesday, the central bank announced a 25 basis points (bps) hike in the repo rate. With the latest hike, the repo rate now stands at 6.50 per cent. One basis point is equivalent one-hundredth of a percentage. RBI had increased rate by 25 bps in the previous policy review after a gap of four-and-a-half years.

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