By Admin 
Repo Rate Cut: This is a big relief news for people who take borrowings or pay EMI on loan. The Reserve Bank of India has announced a cut in the repo rate on Friday, more than the market expectation. After the two -day meeting of the RBI, which started from June 4, the Central Bank has reduced the repo rate for the third consecutive time, giving a huge gift to the people and has cut 50 basis points i.e. 0.50 percent this time.
After this, now the rape rate has come down to 5.5 percent. After this decision of the central bank, all kinds of loans including car-home will become cheap. RBI cut the repo rate and said that their move will give investors a lot of opportunity. The Indian economy will be strengthened amidst the sluggish speed of global growth. Domestic demand will be further strengthened.
This is the third cut in the repo rate in six months from the RBI. Earlier this year, 25 basis points were cut in February this year and then in April 25 basis points were cut. After which the repo rate came to 6 percent.