Housing Finance interest rate to shoot upto 13%

By Staff Reporter.

To curb inflation and reduce the money circulation, RBI is all set to increase CRR by 25 bps. Bankers are expecting the increase which will directly effect the lending to priority sector like housing finance. Just before annual policy statement RBI governor D Subbarao hinted to enhance the CRR to curb inflation.
“There is reasonable liquidity to support credit growth. So focus of the monetary policy action has to be on containing inflation”, M V Nair, Chairman, Indian Bank’s Association said.

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