RBI cuts repo rate by 25 basis points
The RBI under its new Governor Shaktikanta Das has cut its key rates by a cumulative 0.50 percent since he took charge. The central bank has slashed the short-term lending rate (repo rate) by 25 basis points (0.25 percentage points) each in its last two policy reviews. The next meeting of the MPC is scheduled during August 5 to 7, 2019.
The rbi monetary policy Committee (MPC) on Thursday, 7 February, cut repo rate for the first time in 18 months. The committee cut repo rate by 25 basis points to 6.25%.
-Even as the RBI has decreased the repo rate by 50 basis points to 6% since February, bank lending rates, on an average, have declined by only 5 basis points.
· RBI cuts repo rate by 25 basis points Excerpts from the Monetary Policy Statement of August 2, 2017: " On the state of the economy, the MPC is of the view that there is an urgent need to reinvigorate private investment, remove infrastructure bottlenecks and provide a major thrust to the Pradhan Mantri Awas Yojana for housing needs of all.
Good news for loan borrowers! Bank of Maharashtra cuts lending rates by 0.10 per cent to 8.60 per cent Among others, the overnight and 1-month MCLR have been cut by 0.10 per cent each to 7.90 per cent and 8 per cent, respectively. While loan of 3-month tenor will bear interest rate of 8.10 per cent.
The central bank had reduced the repo rate by 25 basis points in February, after a gap of 18 months This interest rate cut would provide relief to borrowers in the election season RBI governor.
With economic growth likely to slow down in the March-quarter 2019, the Reserve Bank of India (RBI) may cut repo rate by 25 basis points (bps) in the upcoming monetary policy review, analysts say.
New Delhi, June 06: The Reserve Bank of India (RBI) today cut the repo rate by 25 basis points. The repo rate has been reduced from 6 percent to 5.75 percent. The repo rate has been reduced from 6.
RBI cuts rates to 9-year low in bid to spur growth The change in repo rate, the rate at which the central bank lends money to commercial banks, will lead to lower interest rates on new bank loans.
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With inflation decreasing, the RBI has slashed the repo rate to 6%, which means more benefits to consumers The Reserve Bank of India’s (RBI) Monetary Policy Committee has decided to cut the repo rate (short-term lending rate) by 25 basis points, due to receding inflation numbers.
"It has been decided to reduce the policy repo rate under the liquidity adjustment facility by 25 basis points from 7.75% to 7.5% with immediate effect," the statement said. (BCCL) See more of :.