RBI Repo Rate Cut: 6 Banks Lower Loan Rates, Bringing Relief to Borrowers

• RBI cut the repo rate by 25 basis points, bringing it to 5.25%.
• Several banks, including Bank of Baroda, Bank of Maharashtra, and Bank of India, have reduced interest rates on home, car, and retail loans.
• These rate reductions offer significant relief to borrowers by lowering their interest burden and EMIs.
• This marks the fourth repo rate cut this year, driven by a growing economy and decreasing inflation.

Why It Matters: RBI rate cuts make bank loans cheaper, directly benefiting borrowers.