RBI cuts repo rate by 25 basis points to 6.25%, a first in 5 years:
Impect: When the RBI reduces the repo rate, all external benchmark lending rates (EBLR) linked to the repo rate will come down, giving relief to borrowers as their equated monthly instalments (EMIs) will fall.
Lenders may also reduce interest rates on loans that are linked to the marginal cost of fund-based lending rate (MCLR).
The Law Talks - CS Bhuwan Taragi
RBI cuts repo rate by 25 basis points to 6.25%, a first in 5 years:
Impect: When the RBI reduces the repo rate, all external benchmark lending rates (EBLR) linked to the repo rate will come down, giving relief to borrowers as their equated monthly instalments (EMIs) will fall.
Lenders may also reduce interest rates on loans that are linked to the marginal cost of fund-based lending rate (MCLR).
8 months ago | [YT] | 2