In the monetary policy review held on 1st April, 2014, the apex bank announced to maintain same rates. RBI has not increased the rates this time. Therefore it has been reported that the Equated monthly Installments for car and home loan are unlikely to change.
RBI has maintained the repo rate at 8% and the cash reserve ratio at 4%. Since there is no change in the interest rates therefore the EMI are also likely to remain unchanged. The chairman and managing director of the PNB bank, stated that for some time the life will remain as usual, since the rates are expected to stay same for a period of time.