News Update

RBI cut Repo Rate by 25 bps

Mumbai, Oct 4 (UNI) In line with expectation, the Reserve Bank of India (RBI) on Friday cut the Repo rate by 25 basis points (bps) to 5.15 per cent. Consequently, the reverse repo rate now stands at 4.9 per cent. This was fifth time in a row the RBI slashed the repo rate. Repo rate is the rate at which the central bank lends money to the commercial banks, in case of any shortfall in funds.