This one Change from RBI could change your VISION & DECISION of your financial Journey
RBI Cuts Repo Rate by 50 BPS: Impact on Personal Finance and Financial Goals The Reserve Bank of India (RBI) has announced a 50 basis point reduction in the repo rate, bringing it down from 6% to 5.50%. This marks the third consecutive rate cut, signaling a shift in the Reserve Bank of India's (RBI) stance on monetary policy. But how does this major policy change impact the average person, their PERSONAL FINANCE, and their FINANCIAL GOALS? Let’s break it down: Key Effects on Personal Finance: Lower Loan EMIs: With the repo rate reduced, interest rates on loans such as home loans, personal loans, and auto loans are likely to go down. This means lower monthly EMIs for borrowers, easing financial pressure and making loan repayments more affordable. Increased Disposable Income: For individuals with variable-rate loans, this reduction could mean more disposable income each month, which can be allocated towards savings or investment. This could help with meeting financial goals like ...