28/08/2020 Financial & Legal Services
Repo rate is a money market tool that is used by the reserve bank of India to achieve several financial goals for the economy. Repo rates work in borrowing-lending functionality when the financial institutions lend money to people they also need to borrow money in shortage of funds. Their financial requirements are fulfilled by RBI with repo transactions. Here are some important points about the Repo rate:
* RBI uses the Repo rates to control its financial mechanism.
* Cuts in Repo rates is good for achieving price stability in the financial market.
* Cuts in Repo rates will also affect the interest rates in the home loan and bank deposit rates.
To know more about Repo rates, visit the Bajaj Finserv official website. *T&C apply*
As per the SBI loan restructuring scheme, the moratorium time for all types of retail loans can be extended by a maximum of 2 years. This means the bo...