Explained: Why your home and auto loan rates are set to go up despite RBI keeping repo rate unchanged


Posted May 5, 2022 by Resurgentindia

Moreover SBI had raised its fixed deposits rates in February to maintain its profit spread the increase in MCLR is a logical step

 
The raising of MCLR s primarily due to twofold factors emerging from the broad guidance of a lesser accommodative policy in future by the RBI and tweaking of the reverse repo rate.Given the kind of oil price fluctuations and a sharp rise in other commodity prices, immediate control of inflation is not seemingly possible and a rise in repo rate by RBI is expected soon. Moreover SBI had raised its fixed deposits rates in February to maintain its profit spread the increase in MCLR is a logical step," said yati Prakash Gadia, Managing Director, Resurgent India, an investment banking firm

Original Source: https://www.resurgentindia.com/
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Last Updated May 5, 2022