Reserve Bank of India cuts repo rate, EMIs set to fall

New Delhi : The Reserve Bank of India (RBI) on Tuesday cut its the repo rate for the third time by 0.25 percentage points to 7.25%. This official announcement by Raghuram Rajan has rekindled hopes of lowering home loan EMIs.

Highlights:

•    RBI on Tuesday announced cut in repo rate by 0.25 percent
•    The new repo rate now stands at 7.25%
•    This is the third cut by RBI since January following low inflation rate
•    Decline in repo rate will attract goad companies to invest, add capacities, hire more, and prompt people to spend on houses, cars and other goods.