“We welcome RBI’s decision today to slash the short-term lending rate, or repo rate, by 25 basis points to 6%. A vast majority of consumer durable customers make purchases through financing mode since paying through monthly installments remains a convenient option. The apex bank’s decision today to slash repo rate will lead to softening of interest rates. This will thereby lower monthly installments and spur sales of consumer durables. Consumer durables are a necessity in today’s fast paced lifestyle & increase in adoption will enhance manufacturing activities thereby supporting economic growth nationwide ”
