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EMI’s to go down soon!

Giving hope & happiness to many home buyers, Reserve Bank Governor Raghuram Rajan, cut the benchmark repo rate by 25 basis points, as expected. Here are few pointers on the same:

  • This is RBI’s first rate cut in 6 months that has sent interest rates to over 5-Year Low.
  • RBI retained its accommodative stance, raising prospect of more rate cuts.
  • Dr. Rajan today stressed that the RBI will ensure that lenders pass on the benefits of lower interest rates to borrowers.
  • Retail lending, including home and car loans are soon to become cheaper.
  • RBI increases Reverse Repo by 25bps to 6% on account of new rate corridor.

A scenario:

The Financial Express

Source: The Financial Express

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