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New Delhi: The Reserve Bank of India (RBI) announced its second bi-monthly monetary policy for current fiscal year in Mumbai on Thursday. The central bank cut repo rate by 25 basis points, now at 5.75.
RBI Monetary Policy 2019: The Reserve Bank of India (RBI) Monetary Policy committee thursday unanimously cut repo rate – the rate at which it lends to banks – by 25 basis points from 6 per cent to 5.75 per cent. The bank also changed the monetary policy stance from neutral to accommodative.
RBI Governor Shaktikanta Das addresses media on rate cut. RBI cuts repo rate by 25 basis points; key interest rates now at 5.75%
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.
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This is the third time on the trot that the six-member MPC has decided on a 25-basis points rate cut, making it a hat-trick of repo rate cuts. The rate cut also comes in the backdrop of benign.
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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 six-member monetary policy committee (MPC) headed by Governor Shaktikanta Das concluded its second meeting for the fiscal year 2019-20.
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 Cuts Repo Rate By 35 Basis Points To 5.40%, EMIs Set To Get Lower This is the fourth consecutive time that the RBI has reduced repo rate. In the earlier three policies, it reduced repo rate by.
"The RBI has gone ahead and cut REPO rate by 25 bps, which was in line with market expectations, accordingly the REPCO rate stands at 6 per cent. With the CPI inflation for June coming down sharply to 1.54 per cent, the market had high expectations that RBI will take steps towards easing rates in the systems.
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