RBI Governor Sanjay Malhotra has announced that the Monetary Policy Committee (MPC) has decided to cut the benchmark repo rate by 6.5%

The Reserve Bank of India announced a 25 basis point cut in the repo rate, now at 6.25%, the first reduction in five years. The decision follows declining inflation rates and the need to support economic growth.

Monetary Policy Committee (MPC) on Friday ‘unanimously’ decided to reduce the policy rate by 25 bps from 6.50 per cent to 6.25 per cent.