India: Another repo rate may increase again
(MENAFN) Recently, the Reserve Bank of India climbed the repo rate by 90 basis points, to reach 4.90 per cent.
On the other hand, Ravi Subramanian, Managing Director and CEO, Shriram Housing Finance, announced that interest rates will increase more.
Subramanian declared in a meeting to local media: "Another 75 basis point hike over the next 60-75 days seems a possibility, which would mean that the housing finance rate will go up by another per cent and a half for consumers in the country."
He went on that he believes that another rise will not affect current loans much.
In agreement with local media, the finance ministry studied their asset quality, credit flow and capital-raising plans, and briefly talked over the consolidation exercise, in a conference with leader of public sector banks.
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