In big relief for home, car and personal loan consumers, the Reserve Bank of India on Friday announced a more than expected 50 basis points or half a percent rate cut.
This is the third consecutive reduction in policy rates.
In addition, the central bank has also unexpectedly reduced the cash reserve ratio by 100 basis points or 1 per cent, which will bring additional liquidity in the banking system and will allow banks to venture more loans.
Watch to know more.
Video: PTI
Published on June 7, 2025