The Reserve Bank of India (RBI) reduced its key repo rate on Friday for the first time since May 2020, aiming to provide stimulus to the sluggish economy, which is projected to grow at its slowest pace in four years during the current fiscal year.

Experts say the RBI has delivered the necessary monetary policy support to the economy, and that today's measure should drive demand and boost FY26 growth

Assuming the rate kicks in from April 1 after 12 EMIs of this loan have been paid, then one can get per-lakh interest savings of Rs 3002 from the rest of the year.