EMIs will come down significantly, says MoS Finance

March 04, 2015 10:50

RBI rate cut to give a boost to economy; EMIs will come down significantly, says MoS for Finance, Jayant Sinha.

The Reserve Bank of India lowered its policy repo rate by 25 basis points to 7.5 percent on Wednesday, delivering its second cut this year on the back of easing inflation and a government commitment to fiscal discipline. The RBI had lowered interest rates by 25 bps on Jan. 15. Both rate cuts this year have took place outside of the central bank's scheduled policy review meetings.

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