EMIs to come down as RBI lowers repo rate by 25 BPS to 5.75%

Changing its monetary policy stance from neutral to accommodative, the Reserve Bank of India has slashed the repo rate by 25 basis points to 5.75% from 6%. “These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent while supporting growth,” the statement released by the RBI said.