Assuming the rate kicks in from April 1 after 12 EMIs of this loan have been paid, then one can get per-lakh interest savings of Rs 3002 from the rest of the year.

The Reserve Bank of India (RBI) reduced its key repo rate on Friday for the first time since May 2020, aiming to provide stimulus to the sluggish economy, which is projected to grow at its slowest pace in four years during the current fiscal year.

Discover the RBI's 25 basis points repo rate cut to 6.25%, its impact on economic growth, credit support, and inflation projections. Learn how the rate change benefits borrowers and businesses while maintaining flexibility for future policy adjustments.