RBI monetary policy review: Repo rate cut by 25 bps to 6 per cent; loans to get cheaper RBI monetary policy review: Repo rate cut by 25 bps to 6 per cent; loans to get cheaper The Monetary Policy Committee (MPC), Led By Reserve Bank Of India Governor Urjit Patel, Decided To Cut The Repo Rate, Or Key Lending Rate, By 25 Basis Points To A Seven-year Low Of 6 Per Cent On Wednesday. The Repo Rate Slash Shall Make The Loans Cheaper For The Consumers. News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 02 Aug 2017, 03:48:11 PM New Delhi: The Monetary Policy Committee (MPC), led by Reserve Bank of India Governor Urjit Patel, decided to cut the repo rate, or key lending rate, by 25 basis points to a seven-year low of 6 per cent on Wednesday. The repo rate slash shall make the loans cheaper for the consumers.