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Wed, Aug 23, 2017 | Last Updated 7:25 pm IST

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RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper

RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper
RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper
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The happy news is that Home and personal loans may now be comparitively cheaper .The Reserve Bank India has  cut repo rates by 25comparatively t0 6 per cent. The head of RBI, RBI governor Urjit Patel announced this happy decision on Wednesday. The cut on key interest rates is expected to bring down interest rates of other loans like personal, home and auto loan. In the same glide ,central bank lends which funds  short-term money to banks, has been cut to 6 per cent from 6.25 per cent .

RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper

Thus the overall difference of 0.25 per cent. The main result of lower loan costs, necessary to accelerate a quick industrial turnaround  time which in turn  drives people to spend more.
RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper

The RBI Governor mention that the most  threatening Inflation has fallen significantly in last three months .This is the impact o of GST and good monsoon. Growth forecast remains unchanged at 7.3 per cent for the current year.


RBI cuts repo rates by 25 bps to 6 per cent, home loans may get cheaper
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