Download: RBI 4th bi-monthly Monetary Policy Statement for 2015-16

Zee Media Bureau

New Delhi: Springing a surprise, the Reserve Bank of India (RBI) on Tuesday cut its short-term lending rate by 50 basis points, but also made a pitch for it to be passed on to end-consumers in the form of cheaper personal and commercial credit.

While the repurchase rate, or the interest charged on short-term borrowings, stands cut to 6.75 percent, it will take commercial banks to lower their own lending rates for personal, automobile, housing and commercial loans to also get reduced, translating into lower EMIs.

Download the link here to read the full text of RBI Monetary Policy Statement for 2015-16.