atrocious hike

The celerity with which RBI is increasing the loan rates seems to suggest that the institution is hell bent on creating an internecine situation in which both the financial institutions as well as the consumer is at loss.The retail sector especially realty will face the brunt , ultimately it is the common man whose monthly EMI is going to inflate and his budget will go haywire. This will make the aspirational middle-class think twice about going for their dream home.
union bank of india has announced hike in home loan and personal loan rates.

update:(2nd aug)- HDFC bank has increased its home loan by .5% and other banks to follow suit, so get ready to shell out more for that 3- bedroom flat!!!for more check this out.