RBI reduces REPO ratio by 0.25 %
Posted on: 03/Aug/2017 10:05:49 AM
The financial policy decisions taken by the Reserve Bank of India during the meeting presided by its governor, Urjit Patel & it was announced that the REPO ratio has been reduced by 0.25% (for short-term loans for the banks) to 6%.
In a similar trend, the reverse REPO ratio (for the Money deposited by the banks) also was reduced by 0.25% to 5.75%.
As RBI has reduced the REPO ratio by 0.25%, it is expected that the interest for the housing and vehicle loans will also come down.
The next ‘Future Policy Meeting;’ is scheduled on 3rd and 4th October.
