RBI reduces the short-term loan interest by 0.35%!
Posted on: 07/Aug/2019 2:39:32 PM
The Reserve Bank of India (RBI) has reduced the interest rate for the short-term loans extended to the banks by 0.35%.
This is the 4th successive time that RBI has reduced the short-term loan interest rate.
It may be noted that the last 3 times RBI reduced the interest rates for the short-term loans lent to the banks only by 0.25%. However, now, for the 4th time, RBI has reduced it by 0.35%.
With this measure, there are prospects of the interest rates for housing and vehicle loans.
Subsequently, RBI has reduced the reverse REPO interest rate also from 5.50% to 5.15%.
