Bank of India Cuts Lending Rate to 8.10% After RBI Repo Rate Trim

• Bank of India reduced its Repo Based Lending Rate (RBLR) by 25 basis points to 8.10%.
• The rate cut follows the Reserve Bank of India's decision to trim the benchmark repo rate.
• The revised RBLR is effective December 5.
• RBI lowered the repo rate from 5.50% to 5.25%.
• The cut is expected to reduce borrowing costs for customers with floating-rate retail and MSME loans.

Why It Matters: Borrowing costs for Bank of India customers will decrease.