The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.

RBI Governor Sanjay Malhotra announces a 25 basis point cut in the repo rate, lowering it to 6.25%, marking the first reduction in five years. The committee unanimously decided to maintain a neutral stance.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is responsible for setting the nation’s key interest rates, particularly the repo rate, which influences borrowing costs across the economy.