Reserve Bank of India reduces repo rate by 25 points

Published: February 07, 2019 16:12:37 | Updated: February 11, 2019 16:54:04

The Reserve Bank of India (RBI) has reduced the repo rate, or the interest rate at which it lends money to banks, by a marginal 25 basis points.

The new repo rate now stands at 6.25 per cent from the earlier 6.50 per cent, reports Xinhua.

The reduction of the central bank repo rate is expected to make loans cheaper in the coming days.

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