Despite lending rate being slashed, banks provide no relief in EMI: Ghanti Bajao Full

To give a boost to the sagging economy, the Reserve Bank of India Thursday lowered its benchmark lending rate to a nearly nine-year low of 5.75 per cent and changed its monetary policy stance to accommodative, leaving space for future rate cuts.
The third reduction in the benchmark lending rate or repo rate in the last five months is expected to bring down the EMIs on home and auto loans, and reduce the debt repayment burden on corporates. In all, the central bank has reduced the benchmark lending rate by 0.75 percentage point since February this year.