The Reserve Bank of India, i.e., RBI has reduced the repo rate by 0.25% to 6%. Earlier it was 6.25%. This means that loans may become cheaper in the coming days. Your EMI will also decrease. RBI Governor Sanjay Malhotra gave information about the decisions of the first monetary policy committee meeting of RBI in the new financial year today on 9 April at 10 am. This meeting started on 7 April.