EMIs start rising as RBI ups key rate 50bps; fourth hike in five months

For new borrowers, the rates might not go up proportionately as banks can revise their spreads to charge lower rates. As the cost of funds for banks has not gone up, lenders are likely to announce special offers for the festive season. Lenders said that while higher rates do have an impact on demand, the overall sentiment is positive. The sensex gained as the policy was on expected lines and the rupee also firmed up.

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