STC NEWS DESK
MUMBAI, APRIL 09 (STC): The Reserve Bank of India (RBI) Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) announced cut in repo rate by 25 basis point (bps) to 6% amid cooling inflation and slowing economic growth.
Besides, the RBI has shifted the stance from neutral to accommodative.
After a detailed assessment of the evolving macroeconomic and financial conditions and output, the MPC voted unanimously to reduce the policy repo rate by 25 basis points to 6% with immediate effect, said the RBI Governor.
Consequently, the standing deposit facility, the SDF rate, under the liquidity adjustment facility, shall stand adjusted to 5.75%, and the marginal standing facility, rate of the MSF rate and the bank rate shall stand adjusted to 6.25%, the RBI Governor Malhotra said. (STC)