Deputy Governor Viral Acharya had favoured status quo in the repo rate, arguing that the RBI should wait for \"some more time\" for additional data before taking call on rate cut.

The country's largest lender slashed interest rates on housing loans up to Rs 30 lakh by 10 basis points, bringing it down to the 8.60-8.90% range, but existing home loan customers may have to wait awhile to see an impact because of the reset date factor

State Bank of India (SBI) also slashed interest rates on housing loans up to Rs 30 lakh by 10 bps. As a result, the interest rate on housing loans below Rs 30 lakh will be in the range of 8.60-8.90%, from 8.70-90% earlier.

The Wall Street brokerage goes one step further saying it expects two rate hikes in calendar 2020-a 25 bps each in Q1 and in the Q2.

The RBI has cut GDP growth projection for 2019-20 to 7.2% versus 7.4% forecasted in February policy meet; retail inflation lowered to 2.4% for the fourth quarter of 2018-19, which was pegged at 2.8% in the last policy meet

Existing home loan customers may have to wait awhile to see an impact of the repo rate cut by RBI on their EMIs because of the reset date factor

RBI for the second consecutively time cut the benchmark rate 0.25 percent on expected lines and the MPC voted for the stance of the policy to be kept at neutral

RBI's MPC meet: \"The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4 per cent level while supporting growth,\" RBI said in a statement.

Sensex loses 192 points to 38,684, Nifty falls 46 points to 11,598.