A Win for Borrowers! BOI’s Lending Rate Drop Opens Doors to Affordable Credit

The Bank of India (BOI) has reduced its repo-based lending rate (RBLR) by 50 basis points, bringing it down from 8.85% to 8.35%. This move follows the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, lowering it from 6% to 5.5%. The central bank’s decision aims to boost economic activity by making loans cheaper for businesses and individuals.

 

1. Impact on Borrowers and Loan Rates

2. Industry Trends and Competitive Positioning

3. Future Outlook and Market Response

Sources: Siasat, MSN, Times of India