Reserve Bank Reduced Interest Rate: Home and Automobile Loan Interest Rate Will DeclineChandra Raja Prabu (Author) Published Date : Apr 04, 2019 17:06 IST
The central bank has taken steps to cut interest rates on loans by 0.25 per cent. This is expected to reduce interest rate in home and automobile loan. The Reserve Bank's financial policy meeting will be held once every two months, and the interest rate and financial policy results will be published. At this February meeting, the Reserve Bank's interest rate (REPO) for the short-term loans provided to the banks and the interest rate (Reverse REPO) of the Reserve Bank from the banks reduced 0.25 percent. The REPO rate dropped to 6.25 percent.
In this case, the Reserve Bank of India Governor Pawarikanta Das and 4 members in the group supported the interest rate to be cut by 0.25 percent. The Reserve Bank of India has reduced interest rates for short term loans by 0.25 per cent. Has been reduced from 6.25 per cent to 6.00 per cent. The question is whether RBI will cut interest rates during the financial policy meeting. The industry needs to be able to invest more and more investments into the market in a somewhat more balanced environment.
In order to increase investments, the central bank's credit interest rate should be low. Offers announced in the recent mid-term mid-term budget have created opportunities to increase consumption. As the Reserve Bank lowered interest rates, commercial banks are expected to reduce interest rates for various loans including home and vehicle.
Reserve Bank Reduced Interest Rate: Home and Automobile Loan Interest Rate Will Decline