Business Mantra News
- While reviewing the monetary policy, RBI has announced cut in Repo Rate by 25 BPS to 6%, lowest since November, 2010.
- Out of 6 members of Monetary Policy Committee, 4 voted in favour of rate cut.
- Reverse Repo rate has been adjusted at 5.75% and Bank rate at 6.25%.
- Markets were expecting such a rate cut.
- Overall growth has been projected at 7.3%
- As global interest rates are soft and Forex market is more or less stable.
- There is immediate fall in the SENSEX and NIFTY on the announcement of rate cut.
- Borrowers to get benefit of this rate cut, if banks pass on this rate cut to borrowers.