National

RBI cuts Repo Rates by 25 bps to 7.5%

New Delhi, March 04: The Reserve Bank of India (RBI) on Wednesday cut the repo rates by 25 basic points from 7.75% to 7.5% with immediate effect. With this move, the home loan EMIs will be cheaper for the middle class households.

The cut in interest rates may continue further during the year by at least .5% more. This signals that the EMIs will be lower and the middle class people will be benefited more. 

This indicates that the RBI agreed with the government decision to boost the growth. The move is an attempt to please the middle class, who were disappointed with the union budget 2015-16.

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