RBI cuts key lending rates by 25 basis points

Sarkaritel
By Sarkaritel August 2, 2017 14:52

RBI cuts key lending rates by 25 basis points


Mumbai, Aug 2 The Reserve Bank on Wednesday slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans.

This is the first rate cut since October 2016 and the interest rate is now at 6-year low. In line with record low retail inflation, the RBI Governor headed Mon etary Policy Committee (MPC) cut policy repo rate by 25 basis points to 6 per cent and the reverse repo by similar proportion to 5.75 per cent.

Sarkaritel
By Sarkaritel August 2, 2017 14:52