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Loans to become cheaper after RBI cuts interest rate to a decade low

Saturday, October 5, 2019, 8:03 AM

Home, auto and other loans are set to become cheaper after the RBI cut interest rates for a record fifth straight time to almost a decade low as it moved aggressively to revive economic growth languishing at six-year lows. The previous lowest repo rate of 5% was recorded in March 2010. Following the rate cut, the reverse repo rate was reduced to 4.9%.

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