Mumbai: The Reserve Bank of India (RBI) on Wednesday announced a 25-basis point (bps) cut to the repo rate, bringing it down to 6 per cent from 6.25 per cent after the Monetary Policy Committee (MPC) meeting.
“After a detailed assessment of the evolving macroeconomic and financial conditions and outlook, the MPC voted unanimously to reduce the policy repo rate by 25 basis points to 6.00 per cent with immediate effect; consequently, the standing deposit facility (SDF) rate under the liquidity adjustment facility (LAF) shall stand adjusted to 5.75 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent” announced RBI Governor Sanjay Malhotra.