Repo interest rate down by 0.25%
Posted on: 04/Oct/2019 2:59:34 PM
The Repo interest rate for the banks is reduced by 0.25%.
The repo interest rate is recently fixed at 5.15% from the existing 5.40%.
This is the 5th time when the Repo interest rate has been reduced.
Considering all the 5 revisions, there has been a total reduction of the Repo interest rate by 1.35%.
This decision was taken in a meeting conducted presided by the Reserve Bank of India Governor Chandrakantha Das.
Because of this reduction, it is eagerly expected that the interest rate for the housing and vehicle loans will also come down.
Further, it was decided during the meeting to reduce the GDP to 6.1% from the earlier 6.9% and also the GDP for 2020-21 to be estimated at 7.2%.
