For retail borrowers lulled by the prolonged benign interest rate regime, the spike in repo rate is a clear signal to tighten the purse strings, as marketwatchers expect at least one more round of policy rate hike. Find out the steps you should be taking to reduce the burden of a higher interest rate on your ongoing home loan NEW DELHI: Four-and-a-half-years ago the RBI had hiked policy rates, and it increased the repo rate again by 25 basis points on 6 June.
