Reserve bank of India’s monetary policy committee which met on 6th June, 2018 framed its bi-monthly policy. It had hiked the repo rate by 25 basis points which stands at 6.25%. The reverse repo rate has also risen to 6%. This will lead to rise in interest rates on loans given by commercial banks and hence the borrowers will be impacted badly. There could also be a rise in marginal based lending rate (MCLR) soon. The existing borrowers can compare the different lending rates by the banks (lenders) and hence can transfer their home loans on calculation of their savings. The new borrowers shouldn’t wait for a rate cut because the central bank will increase the rates in the coming future. They can borrow under Pradhan Mantri Awas Yojana(PMAY). It will offer an interest subsidy based on the income level of a person.

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Source- https://economictimes.indiatimes.com/wealth/personal-finance-news/rbi-hikes-repo-rate-by-0-25-home-loans-set-to-become-costly/articleshow/64464121.cms 

After the spread of internet, banking and mobile wallets have done wonders for India’s digital payment system. Now, it's the time of UPI (Unified Payment Interface). As banks are still left behind in payment space as compared to the wallets of financial technology companies, now they are coming up for tie ups with UPI of NPCI (National Payment Corporation of India), so there might be an increase in payment system by the banks also. RBI and NPCI have excluded wallet providers from this because of the security reasons. It is also possible that after getting approval for this pilot project, wallet providers would be allowed to go for it. But yes, at the end, the success of UPI again depends upon how many players are using it. To know more go through the given link: http://articles.economictimes.indiatimes.com/2016-04-13/news/72295046_1_upi-npci-wallets