Shiv Kumar
Tribune News Service
Mumbai, September 29
The Reserve Bank of India (RBI) on Tuesday lowered the benchmark repo rate, the rate at which it lends to banks, by 50 basis points from 7.25 per cent to 6.75 per cent while leaving the Cash Reserve Ratio unchanged at 4 per cent.
This is expected to bring down cost of housing and car loans.
While reiterating the Central Bank's earlier commitment to bring inflation down to 5 per cent by the end of financial year 2017, RBI Governor Raghuram Rajan noted the slowing growth of the Indian economy.
Tribune News Service
Mumbai, September 29
The Reserve Bank of India (RBI) on Tuesday lowered the benchmark repo rate, the rate at which it lends to banks, by 50 basis points from 7.25 per cent to 6.75 per cent while leaving the Cash Reserve Ratio unchanged at 4 per cent.
This is expected to bring down cost of housing and car loans.
While reiterating the Central Bank's earlier commitment to bring inflation down to 5 per cent by the end of financial year 2017, RBI Governor Raghuram Rajan noted the slowing growth of the Indian economy.
