Reverse repo rate to be reduced by 90 bp to 4 per cent amid the current COVID-19 crisis
Despite the reduction in repo rate by 50 basis points, the banks have cut MCLR by up to 10 basis points only benefitting the borrowers marginally. Expectations range from 25 basis points to 50 basis points for the next reduction with a mechanism that ensures that the reduction is passed on to the bo..
