On April 9, the Reserve Bank of India has decided to reduce the repo rate by 25 basis points. Due to this, the repo rate has come down to 6 percent. Experts believe that the common man may get relief due to the reduction in repo rate. Due to this, EMI may come down. Those who have floating rate home loans can also get the benefit.

Due to this, the burden of EMI may come down for those who have floating home loans. This step is to smooth the path of economic growth. Banks will be able to provide the benefit of this step to the customers. As per news reports, In fact, SBI Research has predicted that the RBI will cut the repo rate by 100 bps in the current fiscal, starting with 25 bps in its April monetary policy review. If the central bank cuts the rate again tomorrow, borrowers can then expect the banks to pass on the benefits of two cuts to them sooner or later. Most lenders, however, are yet to respond to the 25 bps rate cut effected by the RBI in February.