RBI repo rate cut, June 6 -- In a surprise move, the Reserve Bank of India (RBI) announced a 50 BPS repo rate cut to 5.50 per cent on Friday. The RBI Governor, Sanjay Malhotra, declared the higher-than-expected repo rate cut after the end of three days of the RBI MPC meeting. According to tax and investment experts, this will impact fresh home loan borrowers and bank fixed deposit (FD) account holders. They said that the RBI's repo rate cut decision is expected to bring relief for fresh home loan borrowers as their monthly EMI is expected to come down if banks pass on this relief to their customers. They said that the monthly home loan EMI calculator may show around Rs.2,000 lower if a borrower has taken Rs.50 lakh for 20 years. On the im...