RBI's new Governor Sanjay Malhotra cuts repo rate by 25 bps

The Reserve Bank of India's (RBI) new Governor Sanjay Malhotra on Friday announced the Monetary Policy Committee's (MPC) decision to cut the repo rate by 25 bps to 6.25%. Until now, the repo rate remained unchanged at 6.50% since February 2023. The RBI increased the repo rate in February 2023 and raised it by 25 bps from 6.25% to 6.50%.