Live
- PM Modi highlights govt's efforts to make Odisha prosperous and one of the fastest-growing states
- Hezbollah fires 200 rockets at northern, central Israel, injuring eight
- Allu Arjun's Family Appearance on Unstoppable with NBK Breaks Viewership Records
- Unity of hearts & minds essential for peace & progress, says J&K Lt Governor
- IPL 2025 Auction: I deserve Rs 18 cr price, says Chahal on being acquired by Punjab Kings
- EAM Jaishankar inaugurates new premises of Indian embassy in Rome
- Sailing vessel INSV Tarini embarks on second leg of expedition to New Zealand
- Over 15,000 people affected by rain-related disasters in Sri Lanka
- IPL 2025 Auction: RCB acquire Hazlewood for Rs 12.50 cr; Gujarat Titans bag Prasidh Krishna at Rs 9.5 crore
- Maharashtra result reflects the outcome of Congress' destructive politics: BJP's Shazia Ilmi
RBI policy to provide cheaper loans
As RBI cuts rates, banks are expected to pass the benefit to consumers.
NEW DELHI: Central Bank has reduced the repo rate for the fifth time, the Reserve Bank of India (RBI) is currently on a rate deducting tour.
As the RBI cuts rates, banks are expected to pass the benefit to consumers and reduce the interest rates on home, auto, personal or other loans which may result in lower EMIs (equated monthly instalments).
"The Reserve Bank will continue the 'accommodative' stance as long as it is required to revive the growth," RBI governor Das said.
Shaktikanta Das on Punjabi and Maharashtra Cooperative (PMC) Bank Crisis has stated that, "As soon as this issue came to the central bank's notice, the RBI has acted very swiftly. One incident should not be used to generalise the state of all cooperative banks. Banking system sound, stable and there's no reason to panic."
