RBI MPC Meeting: After Budget 2025, RBI has now reduced the repo rate, giving a big relief to the middle class. Due to this, now home and car loans will become cheaper.
RBI MPC Meeting: Reserve Bank of India Governor Sanjay Malhotra today announced a reduction in the repo rate by 25 basis points or 0.25 percent in the monetary committee meeting. It has been reduced from 6.50 percent to 6.25 percent. Let us tell you that in his first MPC meeting as RBI Governor, Sanjay Malhotra has cut the repo rate for the first time in five years.
Earlier, the repo rate was reduced in May 2020. Whereas, in February 2023 it was increased by 25 basis points. After the reduction in repo rate, people are breathing a sigh of relief because the effect of reduction in repo rate is seen in the interest rates. That is, now from home loan to car loan will become cheaper. People are reacting fiercely on this on social media.
