Your instalments might still come down if Rajan has his way
During the monetary policy review meet on June 7, Rajan said, "Transmission of policy into bank lending rates still remains work in progress. We will shortly review the operation of the marginal cost lending rate framework to iron out any issues."
Reserve Bank of India (RBI) Governor Raghuram Rajan is seen in a TV cameras viewfinder as he attends a news conference after the bimonthly monetary policy review in Mumbai, India, June 7, 2016. REUTERS/Danish Siddiqui