Anjan Kumar Samal
In almost four and half years of BJP government in the center, for the very 1st time the nation’s Apex Bank has been put forward it’s stricture in regard to repo rate by 25bps up to 6.25%. It was decided on the meet of monetary policy as on 6th June 2018 sitting on the trend of rising inflation and high oil price.
Experts of Market trends and financial Gurus even were anticipating prevalence on the interest rate in the Apex Bank’s bimonthly monetary policy meet.
Consequently Banks and Housing Finance Companies like SBI, HDFC, ICICI Bank, PNB, Bank of Baroda including Kotak Mahindra Bank have lifted their MCLR ranging from 5bps up to 20 bps. It is reflection of effect of refurbished hiked repo rate which ultimately will have a burden for loan seekers and home buyers across the country’s economic territory.
