As a major relief for the borrowers, the Reserve Bank of India has cut the repo rate by 25 bps. The cut was announced in its bi-monthly monetary policy today. The Monetary Policy Committee finished its three-day meeting that started on Wednesday, and the repo rate decision was announced today. RBI Governor Sanjay Malhotra and the other committee members unanimously decided to reduce the repo rate by 0.25%, lowering it to 5.25%.

The MPC convened its policy meeting against the backdrop of robust economic growth, historically low inflation, and the Indian rupee hovering near record low levels of near 90 per US dollar.

Home Loan EMIs to Drop

This decision is expected to reduce EMIs on home loans and other loans, easing the financial burden on individuals. The repo rate cut will also have a

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