NEW DELHI, Feb. 7 (Xinhua) - India's central bank - the Reserve Bank of India (RBI) on Thursday reduced the repo rate, or the interest rate at which it lends money to banks, by a marginal 25 basis points.
A man checks his phone outside the Reserve Bank of India (RBI) headquarters in Mumbai, India April 5, 2018. (File Photo: VCG)
The new repo rate now stands at 6.25 percent from the earlier 6.50 percent.
The reduction of the RBI repo rate is expected to make loans cheaper in the coming days.