The
Reserve Bank of India (RBI) cut interest rates for a third time this year on
Tuesday, taking advantage of subdued inflation to give more support to an
economy that many economists doubt is doing as well as latest impressive growth
numbers suggest.
The RBI's quarter point reduction in the repo rate to 7.25 per cent was predicted by 35 of 48 analysts polled by Reuters. Previous cuts, in January and March, had also been by 25 basis points and expects the commercial banks to reduce the interest rates and thus the EMI will also be revised on the existing loan.
The RBI's quarter point reduction in the repo rate to 7.25 per cent was predicted by 35 of 48 analysts polled by Reuters. Previous cuts, in January and March, had also been by 25 basis points and expects the commercial banks to reduce the interest rates and thus the EMI will also be revised on the existing loan.
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