Yes, the Reserve Bank of India (RBI) today announced a 25 basis point reduction in the repo rate, bringing it down to 6.25%. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%. This is the first rate cut since 2020 and is aimed at stimulating economic growth by making borrowing cheaper The decision was influenced by declining inflation and a positive growth outlook.

The reduction in the REPO rate typically leads to lower interest rates on loans, including home loans, car loans, and personal loans. This makes borrowing cheaper for individuals and businesses