Loan EMIs To Come Down as RBI Cuts Repo Rate 25 bps to 6.25%

The Reserve Bank of India’s (RBI) six-member Monetary Policy Committee (MPC) Friday cut the repo rate — the rate at which the RBI lends to other banks — by 25 basis points to 6.25 per cent. This is the first rate cut initiated by the RBI in five years, the last one being in May 2020. The decision is expected to bring down loan EMIs and provide relief to borrowers.