RBI rate cut impact on your money
- With repo-rate slashed to 6%, your home loan EMI is likely to reduce, but with a lag
- If you are investing in debt funds stick to ultra-short term and short-term funds
Mumbai: Last week, when the Reserve Bank of India (RBI) cut repo rate — the rate at which the central bank lends to commercial banks – by 25 basis points (bps) to 6%, it sent out hope that your loans will get cheaper. One bps is one hundredth of a percentage point.
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