Jun 06, 2019, 12:20:30 PM | Times Now
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Reserve Bank of India cuts repo rate by 25 bps to 5.75%

The monetary policy committee (MPC) of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20). For the third time in a row, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) today cut interest rates by 25 basis points, as was widely expected. RBI Governor Shaktikanta Das announced its second bi-monthly monetary policy statement for 2019-20. In a unanimous decision, the MPC also decided to change the stance of monetary policy from neutral to accommodative.

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