AUTO LOAN ALERT! RBI cuts interest rates by 0.25 pct, check new EMIs here
The Reserve Bank of India (RBI) has announced a rate cut of 0.25 per cent in its bi-monthly Monetary Policy Statement for 2019-20 on Friday. The latest repo rate now stands at 5.15 per cent as against 5.40 per cent earlier.
The new rate is also the lowest in 9 years since April 2010 and is expected to boost growth, which slowed to as low as 5 per cent in June quarter and is expected to propel demand in the ongoing festive season. Pixabay