RBI Cuts Key Interest Rate

The Reserve Bank of India (RBI) has slashed the key interest rate, repo rate by 25 basis points or 0.25 per cent to 6 per cent and has decided to maintain the neutral policy stance.

Financial Statement of the RBI

The rate cut will provide commercial banks more room to pass on the benefit of lower lending rates to loan borrowers. At the same time, it would also translate into a lower interest rate earned by depositors.

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