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RBI slashes repo rate by 25 bps; your home, vehicle loan EMIs may come down

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The existing and the potential home loan borrowers got this good news on June 6, 2019, when the Reserve Bank of India (RBI) slashed the repo rate by 25 basis points (bps), bringing it down to 5.75%. This is the third consecutive rate cut by the central bank this calendar year.

The cuts follow a similar move by the largest lender SBI after RBI’s decision on Wednesday to reduce the key repo rate by 35 bps to a nine. where more than 80% of its loan book sits, will come down.

RBI slashes lending rate by 0.25%; EMIs on home, auto loans to come down. In its second surprise rate cut within two months, RBI on Wednesday slashed benchmark interest rates by 0.25 percent, a move that may bring down EMIs for home, auto and other loans and give a boost to the economy.

The savings account will earn an interest of 2.75 per cent less than repo rate (repo rate minus 2.75 percent) whereas cash credit accounts and overdrafts will carry an interest rate equal to the repo rate plus spread of 2.25 percent (Repo rate plus 2.25 percent).

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RBI repo rate cut highlights: shaktikanta das slashes rate by 25 bps; set to bring relief to home loan takers, banks, NBFC, other lenders The rbi monetary policy review decision is in line with the expectations and it would have a positive impact on the Indian economy as a liquidity crisis has been addressed.

MUMBAI: In its first bi-monthly monetary policy meet of this financial year (FY19-20), the Reserve Bank of India (RBI) on Thursday decided to cut repo rate by 25 basis points (bps) or 0.25 per.

The Reserve Bank of India’s (RBI) Monetary Policy Committee has decided to cut the repo rate (short-term lending rate) by 25 basis points, due to receding inflation numbers. Reports expect the repo rate to go down to 6%, which would be lowest rate since 2010.

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