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Repo Rate Slashed By 25bps, 6.50% From 6.75%

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Mumbai, Apr 05 (ANI): The Governor of Reserve Bank of India, Raghuram Rajan, on Tuesday announced the first bi-monthly policy review for this fiscal year. He said the repo rate has been slashed by 25BPS, which has come down to 6.50% from 6.75%. The announcement came as a big relief to the home buyers as home loans are now expected to get cheaper. The decision comes nearly a month after the government presented the Union Budget for 2016-17. Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds.

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