The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI), under the leadership of new Governor Sanjay Malhotra, announced a 25 basis point reduction in the repo rate for the first time in five years,

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.

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