RBI Cuts Repo Rate By 50 Basis Point to 6.75 pct, Will Be Cheaper Home

Mumbai:Sept 29; In an unexpected move, the Reserve Bank of India today cut its policy rate by 50 basis points to 6.75 percent giving a much-needed push for the faltering growth as inflation is following its projected trajectory.

It has in fact reduced its inflation projection to 5.8 percent for January 2016, from the earlier 6 percent, but growth estimate to 7.4 percent for 2015-16 from 7.6 percent.

Repo rate reduction can be helpful in rapid growth. The repo rate is expected to decline cheaper loans is increased. Repo rate after declining loan rates by banks will be reduced to some extent. Although the reduction in the repo rate will be equal to the reduction. However, each time the benefit, it is not necessary.

"Despite the monsoon deficiency and its uneven spatial and temporal distribution, food inflation pressures have been contained by resolute actions by the government to manage supply," the RBI said in its policy statement.

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