Wed, Mar 04, 2015, 10:50 AM
Its good news. Reserve Bank Governor Raghuram Rajan on Wednesday announced a surprise repo rate cut. This is the second time in less than two months. Repo rate has been reduced by 25 basis points or 0.25 per cent to 7.5 per cent with immediate effect. The repo rate was cut down after Finance Minister Arun Jaitley has introduced the Union Budget in parliament. By cutting down the repo rates home loans will become cheaper.