Larger-than-expected surprise: RBI cuts repo rate by 50 bps to 5.5%; EMIs to come down – Times of India
RBI monetary policy today RBI MPC Meeting: In a big cheer for loan borrowers, RBI governor Sanjay Malhotra announced a more-than-expected 50 basis points repo rate cut. The repo rate now stands at 5.5%, down from 6%. RBI has cumulatively cut the repo rate by 100 basis points since its February policy review. However, RBI…