The Reserve Bank of India (RBI) has announced its sixth consecutive lending rate hike.
The rate hike may lead to an increase in loan EMIs for borrowers.
Borrowers of personal, home, and car loans will be affected.
The cost of borrowing will become more expensive for consumers.
The rate hike is a measure to curb inflation and maintain monetary stability in the economy.
The recent rate hike is the sixth in a series of consecutive hikes by the RBI.
It is important for borrowers to review their loan agreements and consider the impact of the rate hike on their financial situation.