RBI rate cut: Ten things to know

The decision to reduce repo rate comes a fortnight ahead of the scheduled date of monetary policy announcement on February 3. Following are the highlights of the RBI decision on monetary policy and subsequent developments:

Key policy rate (repo) cut by 0.25 per cent to 7.75 per cent.

Reverse repo to cut by 0.25 pc; CRR still at 4 per cent.

First cut in interest rate since May 2013.

EMIs for auto and home loan may come down. United Bank of India announces cut in lending rate; other banks likely to follow.

BSE Sensex jumps over 800 points in intra-day trade.

Finance Minister Arun Jaitley terms it positive for economy, will leave more money in hands of people. Corporate world hails the move.

Inflationary pressures easing since July 2014, says RBI. Inflation likely to be below 6 per cent by January 2016.

Crude prices expected to remain low over the year.

RBI to announce monetary policy review on February 3.

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Printable version | Oct 18, 2021 5:43:13 PM |

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