India cuts policy rate for the first time in nearly five years, new central bank governor Malhotra says
The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy. The Monetary Policy Committee decided to trim the repo rate by 25 basis points to 6.
RBI projects retail inflation at 4.2% for next fiscal year, citing good crop prospects and global uncertainties.
However, some banks acknowledged the short-term impact on their profitability, with expectations of eventual recovery ...
The RBI's MPC, in a unanimous decision, lowered the repo rate in a bid to stimulate economic activity by making borrowing ...
Highlights: The Reserve Bank of India has cut repo rate by 25 bps to 6.25% for the first time in nearly five years. RBI's ...
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