RBI Cuts Repo Rate For Fourth Time This Year, EMIs Set To Get Lower | Read
The Reserve Bank of India's Monetary Policy Committee (MPC) headed by Governor Shaktikanta Das today delivered its fourth repo rate cut in a row and maintained its accomodative stance. The MPC cut the repo rate, which is the key interest rate at which it lends short-term funds to commercial banks, by 35 basis points or 0.35 percentage point to 5.40 per cent, the lowest in over nine years, to spur economic growth. After the repo rate cut by the Reserve Bank of India, equated monthly installments (EMI) for home and other loan borrowers are set to come down, say analysts.
