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HDFC Bank Hikes Base Rate-EMIs Set to Rise

hdfc bankFollowed by the Reserve Bank of India’s repo rateor  main lending rate hike, HDFC bank has increased its base rate -0.20 percent to 10 percent. The revised rate is in force from 2nd of this month and other banks will likely to hike base rates.

The hike in the base rate will result in in the rise of EMI (equated monthly installments). This could hit be a burden on the already struggling households with price hikes and infalation.

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