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.

The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) announced its decision on key interest rates on Friday. The panel decided to reduce the policy by 25 basis points from 6.5 per cent to 6.