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.
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 majority.
Continuing to deliver good news for borrowers, the Reserve Bank of India (RBI) has announced another repo rate cut by 25 basis points (bps). This is the third time in a row that the central bank has cut key rates this calendar year. Borrowers can hope for more rate cuts in the future as monetary policy stance has been changed from neutral to accomodative. However, this is bad news, especially for senior citizens dependant on income from fixed income instruments.
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New Delhi: In an unusual move, the Reserve Bank of India on Wednesday reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy. The 35 basis points (bps) cut in repo is unusual, as the RBI has been changing the interest rate by 25 or 50 bps in the past.
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.
The Reserve Bank of India on Wednesday broke-away from convention to reduce key lending rates by 35 basis. RBI fourth.
For the first time since 2013, India’s central bank has announced a third consecutive cut in key policy rates. The repo rate-at which the Reserve Bank of India (RBI) lends to commercial banks.
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