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Loans To Become Cheaper As RBI Cuts Repo Rate To 4%

May 22, 2020 03:15 PM IST India India

Interest on Fixed Deposits to reduce, while the loans to get cheaper as the RBI cuts the repo rate by 40 basis points. The new repo rate is at 4%, the lowest in over 20 years. The RBI Governor, Shaktikanta Das said that this decision was taken after an assessment of the inflation outlook. The Monetary Policy Committee assessed that the inflation outlook is high and uncertain.