Coronavirus relief package: How RBI's emergency repo rate cut benefits borrowers
Updated : March 30, 2020 06:04 PM IST
On Friday, RBI reduced repo rate by 75 basis points (bps) or 0.75 percent in order to help the weakening economy in view of coronavirus.
Repo rate has a direct bearing on the customers who take loans from banks.
State Bank of India or SBI, country's largest lender, has passed on the entire 75 basis points repo rate cut benefits to its borrowers.