Loan EMIs set to fall as RBI cuts key policy rates

Interest rates on loans are set to fall further as the RBI slashed its key policy rates for the second time in two months to counter the economic fallout of the coronavirus outbreak. RBI governor Shaktikanta Das unveiled a 40 basis points cut in the benchmark repurchase rate to 4%. Consequently, the reverse repo rate was also reduced to 3.35 from 3.75%.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News
https://ift.tt/2WR5baf