Bad news with the market tumbling under pressure from rising inflation and oil prices and it seems the worst is not still over with the markets at a 2 year low.The interest rate hike has come from the country's leading bank SBI which gives an indication that the other banks will follow shortly.
The bad news is for those with house , car or any loans from banks.Interest rates have just gone up.Therefore , the equated monthly installments on are to increase or will have to be paid for a longer period.This comes as a bad news for the booming Automobile industry ,Housing ,and Consumer Durables industry which are riding high will se a big dip in their sales.
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