Loans and EMI to get cheaper as RBI cuts repo rate by 25 bps

The Monetary Policy Committee (MPC) of the Reserve Bank of India on Thursday affected 25 basis points cut in repo rate in its second bi-monthly policy review of this financial year. After the cut, the repo rate now stands at 5.75 per cent. The MPC also changed policy stance to 'accommodative' from 'neutral'. This was a third rate cut in a row by the central bank more