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.
The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, car loan and corporate borrowers. This is RBI’s second monetary policy after Modi 2.0 took charge in May.
As widely anticipated, the Reserve Bank of India (RBI) has once again reduced its key lending rate by 25 basis point. The lending rate now stands at 5.75, and this is the third consecutive rate cut since February 2019.
Mumbai: With economic growth likely to slow down in the march quarter 2019, the RBI may cut repo rate by 25 basis points. already done consecutive rate cuts in its previous policy meetings and the.
As widely anticipated, RBI has once again reduced its key lending rate by 25 basis point. The lending rate now stands at 5.75, and this is the third consecutive rate cut since February 2019. Even though the Indian economy is perceived to be in the grips of a slowdown, the markets are quite bullish on Modi’s return to power with a thumping.
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India's central bank chips in a third straight time to help revive the economy. central bank has announced a third consecutive cut in key policy rates.. “While the rate cut of 25 basis points was in line with our expectation, economy expanded at only 6.8% in financial year 2019-the lowest in five years.
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A basis point is 0.01 percentage point. In an ET poll of 20 market participants on the weekend, 17 had expected a 25 bps reduction. MUST READ: Rising tomato price, farm waiver raise inflation woes for Urjit & Co RBI cuts repo rate by 25 bps, these 12 stocks will be sureshot winners
The change in repo rate, the rate at which the central bank lends. banks, will lead to lower interest rates on new bank loans.. india Updated: Jun 06, 2019 23 :23 ist. points to 5.75% on Thursday, its third consecutive rate cut this year, Watch | RBI cuts repo rate by 25 basis points, policy stance now.