Fintotal News Analysis | RBI Slashes Repo Rate
RBI Slashes Repo Rate
Ruby Jacob, 17 Apr 2012

Reserve Bank of India has cut repo rate by 50 basis points on Tuesday for the first time in three years after consistently hiking it all these years. The sharp cut comes as a surprise as most expected a cut of 25 bps. Loans are expected to get cheaper.

Repo rate is the interest rate at which the central bank RBI lends to banks. With today's cut it stands at 8%. The lower cost of borrowing for banks will sooner or later be passed on to customers.

CRR however has been left unchanged in this monetary review of the RBI.

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