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The Reserve Bank of India (RBI) on Thursday cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global scenario.
The Reserve Bank of India (RBI) on Thursday cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global scenario. The six-member monetary policy committee (MPC) headed by Governor shaktikanta das concluded its second meeting for the fiscal year 2019-20.
RBI cuts repo rate by 25 basis points to 5.75 pc, shifts. – The Reserve Bank of India (RBI) on Thursday cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global. Home loan to get cheaper as RBI cuts repo rate by 25 basis.
RBI Monetary Policy Committee Meet: The six-member monetary policy committee (MPC), headed by rbi governor shaktikanta das, has decided to reduce key repo rate by 25 basis points to 5.75 per cent.
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RBI Cuts Key Repo Rate By 25 Basis Points To 5.75%, Changes Stance From ‘Neutral’ To ‘Accommodative’. RBI Governor Shaktikanta Das Issues Briefing After Bi-Monthly Policy Review.
Most of the consumer loans such as personal, auto and home are priced on the basis. The rate cut follows an MCLR cut by the country’s largest lender SBI post the RBI’s decision to reduce the key.
RBI has cut the repo by 25 basis points which are largely in line with expectations, the markets while factoring in a 25 basis cut were hopeful of a 50 basis point cut as well. This could lead the markets lower intraday as this was totally factored into the price already.
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The RBI on Thursday cut the repo rate by 25 basis points to 5.75 per cent – taking the policy interest rate down to a nine-year low – and immediately put pressure on banks to pass on the benefit to their customers through matching cuts in their lending rates.
RBI slashes repo rate to 5.75%, bank loans to get cheaper With the RBI cutting repo rate by 25 basis points, bank loans are set to get cheaper.