BoB, Bank of India Cut Loan Rates After RBI Move; Others to Follow

• BoB and Bank of India cut their repo-linked interest rates by 25 basis points.
• Bank of India's Repo Based Lending Rate (RBLR) is now 8.10%, and BoB's Baroda Repo Based Lending Rate (BRLLR) is 7.90%.
• These cuts followed the RBI's decision to slash the key repo rate by 25 basis points to 5.25%.
• The RBI's move aims to provide a Rs 1 lakh crore liquidity boost and support the economy.
• Lower repo rates are expected to reduce borrowing costs for individuals and corporations, making loans more affordable and stimulating economic activity.

Why It Matters: Your loans and EMIs could get cheaper.