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.
Post the policy announcement, the repo rate stands at 5.75 per cent down from 6.00 per cent. Similarly, reverse repo rate has also been reduced to 5.50 per cent from 5.75 per cent.
In the previous monetary policy reviews, held in February and April 2019, RBI reduced the key policy rates by 25 bps each time. In the calendar year, the central bank has reduced the rates by 75 bps in total. One basis point is equal to one hundredth part of percentage.
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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. Post the policy announcement, the repo rate stands at 5.75 per cent down from 6.00 per cent. Similarly, reverse repo rate has also been reduced to 5.50 per cent from 5.75 per cent. In the previous monetary policy reviews, held in February and April 2019, RBI reduced the key policy rates by 25 bps each time. In the calendar year, the central bank has reduced the rates by 75 bps in total. One basis point is equal to one hundredth part of percentage.