RBI cuts key lending rate to boost growth

Mumbai (IANS) Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.

Besides, the RBI changed the monetary policy stance from neutral to accommodative.

Accordingly, the lower repo, or short-term lending rate for commercial banks, will reduce interest cost on automobile and home loans, thereby ushering in growth.

The decision to reduce the repo rate was taken by the RBI's Monetary Policy Committee (MPC) at its second monetary policy review of the current fiscal. 

-------Trending Video------

.

नियोजन नीति 1932 खतियान स्थानीय नीति OBC आरक्षण को लेकर समन्वय समिति में हुई चर्चा ||Reporter Post||
Follow Us
Read Reporter Post ePaper
--Advertisement--
Weather & Air Quality across Jharkhand