Reserve Bank of India cuts interest rate by 25 pc
Mumbai, Feb 7 (PTI) The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans.
The central bank also changed its monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening on its approach towards interest rates.
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