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The Reserve Bank of India has increased the repo rate five times since May this year. Recently, on December 7, the repo rate has been increased by 35 basis points from the central bank. Banks increase their Marginal Cost of Funds Based Lending Rates (MCLR) from the very next day itself due to the loan being linked to the repo rate. Many banks have increased the EMI of their loans in December. Here, a total of five banks have been told, which have increased the interest rate of the loan.
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