The Reserve Bank of India hiked the key lending and borrowing rates by 50 bps in its credit policy announcement on Tuesday. The aftereffects are likely to be seen in the form of higher interest rates in home and auto loans. At a time when the auto sales are seen to be decelerating, K Sridharan CFO of Ashok Leyland says that RBI's move may lead to the tipping point for the auto sales figures.
He says that if the banks pass on RBI's rate hike cost, it could spell trouble for the auto industry.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
