NEW DELHI: The Reserve Bank of India (RBI) on Thursday reduced repo rate by 25 basis points (bps) to 5.75 per cent. This is the third straight reduction in the rates in 2019. The move will likely bring down the loan EMIs (equated monthly installments). The last time the Reserve Bank moved this quickly to lower rates was in 2013 to revive the moribund economy from growth rates that had slipped to a decade low.
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