Fri. Mar 29th, 2024
Rbi

Mumbai, June 6 (IANS) In the second bi-monthly monetary policy review of the current fiscal, 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.

By Pankaj Singh

Editor. Talking about future fascinates me.

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