Home loan , car loans and other loans which are in the floating rate of interest are going to get cheaper by 0.5%. Make use of it Interest rates of deposits will also come down by 0.5% but that's fine. We have MFs to compensate for it. Markets have reacted well to the news. Another 0.5% in coming days will give bumpers to all of us. Inflation stayed low at 3.16% which fuelled this rate cut. It was inline with expectations