RBI Governor Sanjay Malhotra has announced that the Monetary Policy Committee (MPC) has decided to cut the benchmark repo rate by 6.5%

The RBI's Monetary Policy Committee, led by new Governor Sanjay Malhotra, cut the repo rate by 25 basis points to 6.25%, maintaining a neutral stance. This change follows eleven meetings with an unchanged rate.

The Reserve Bank of India announced a 25 basis point cut in the repo rate, now at 6.25%, the first reduction in five years. The decision follows declining inflation rates and the need to support economic growth.