Freeze Home loan interest– FM’s request to Banks

By Vijay Kumar

The Finance Minister has asked the Banks to hold in abeyance any decision that hits the monthly budget of the common man, like hike in Home Loan interest. The interest rates have gone up from 7% to 10% in the last few years. That means your EMI must have also gone up by nearly 40%. Banks have agreed to the FM’s request but for how long?