RBI cuts repo rate by 25 basis points to 6.25% from 6.50%
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The Reserve bank of India has reduced the key policy rate or the repo rate by 25 bps to 6.25 per cent in the fourth bimonthly policy review announced on Tuesday.
This is the first rate decision made by the Monetary Policy Committee (MPC) of the bank, which is headed by RBI Governor Urjit Patel and comprises six members.
“Six members voted in favour of the monetary policy decision,” the RBI said in a statement.
The committee had noted that the sharp drop in retail inflation reflected a downward shift in the momentum of food inflation, the RBI said. #casansaar (PTI - The Hindu)
This is the first rate decision made by the Monetary Policy Committee (MPC) of the bank, which is headed by RBI Governor Urjit Patel and comprises six members.
“Six members voted in favour of the monetary policy decision,” the RBI said in a statement.
The committee had noted that the sharp drop in retail inflation reflected a downward shift in the momentum of food inflation, the RBI said. #casansaar (PTI - The Hindu)
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