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RBI’s Fifth Repo Rate Cut by 0.25 %

(Mumbai) The Reserve Bank (RBI) cut its key rates by 0.25 %
RBI cut its estimate of economic growth in the current fiscal to 6.1 % from its earlier estimate of 6.9 %
The repo rate, at which it lends to the system, has been brought down to 5.15 % to help reduce borrowing costs for home and auto loans, which are now directly linked to this benchmark.
This is the fifth straight cut in rates by the Reserve Bank in its key rates in as much policy reviews in 2019, and takes the total quantum of reductions to 1.35%