RE: What does a reduction in "repo-rate" mean to a borrower
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Very educative, that means, the reserve bank controls the rate, if they give a lesser rate to the commercial banks, customers on those various banks, will get loans with lesser rate as well, the whole thing is in circle.
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That's your.....rbi regulates all the commercial.bank, therefore any changes done at their end will be pass on the commercial and then to the individual.customer .