RBI Big Announcement Amid Lockdown, 75 Basis Point Reduction in Repo Rate

New Delhi : In the midst of lockdown, efforts are being made continuously by the government to boost the country’s economy. Under this, the Reserve Bank has reduced the repo rate by 75 basis points as expected. After this reduction, the repo rate has come down from 5.15 to 4.45 per cent. This reduction in the repo rate is the biggest in RBI history. In the last two monetary review meetings, the RBI did not take any decision on the repo rate.

The benefit of the repo rate reduction is expected to be available to crores of people paying many EMIs including home, car or other types of loans.