RBI’s repo rate cut effect: These banks have slashed lending

Following the Reserve Bank of India’s decision to cut the repo rate by 50 basis points on Friday, June 6, several banks have reduced their lending rates to pass on the benefit to borrowers. The RBI’s Monetary Policy Committee, led by Governor Sanjay Malhotra, brought the key policy rate down from 6.00% to 5.50%, aiming to boost economic activity through lower borrowing costs.

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