RBI cuts repo rate by 25bps to 5.15%, GDP growth cut to 6.1%
Mumbai: The RBI on Friday reduced the repo rate by 25 basis points to 5.15% from 5.40% in the fourth bi-monthly policy review.
The six-member MPC committee voted to reduce the repo rate by 25 basis points and stick to the accommodative stance "it is necessary to revive growth while ensuring that inflation remains within the target."
After the current rate cut, the repo rate is lowest since March 2019.
The reverse repo rate has been adjusted to 4.90% while the MFs and bank rate has been adjusted to 5.40%.
The 2019-20 growth rate has been reduced to 6.1% from 6.9%.
Post the RBI's announcement, the domestic market indices began downward slide, losing the gains made in the morning trade.
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