Breaking News: RBI Cuts Repo Rate by 0.25% to 6.00% to Boost Economy and Ease Loan Burden

In a significant move aimed at boosting economic activity, the Reserve Bank of India (RBI) has announced a 0.25% cut in the repo rate, bringing it down from 6.25% to 6.00%. This decision was taken after the Monetary Policy Committee (MPC) meeting, with a focus on stimulating growth while keeping inflation under control.The repo rate is the rate at which the RBI lends money to commercial banks. A reduction in this rate typically leads to lower borrowing costs for banks, which can then pass on the benefit to consumers through cheaper loans. As a result, this move is expected to bring relief to the general public in the form of reduced interest rates on home loans, auto loans, and other forms of credit.Experts believe this step could significantly support India's economic momentum, especially in light of ongoing global economic uncertainties. The rate cut is seen as a proactive measure to ensure liquidity in the market, improve consumer spending, and encourage investment at a time when many economies are facing a slowdown. The RBI’s balanced approach indicates its commitment to supporting growth without compromising inflation targets.

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