From GDP growth revision to NEFT availability: Key highlights of RBI Policy

Citing geo-political uncertainties and elevated food prices, the RBI revised inflation projection upward to 3.4 per cent for Q2FY20, while projections were retained at 3.5-3.7 per cent for H2FY20

The Reserve Bank of India’s Monetary Policy Committee (MPC), on Friday, cut key repo rate by 25 basis points (bps) to 5.15 per cent, in its fourth bi-monthly MPC review meeting. Consequently, the reverse repo rate stands at 4.9 per cent. The cut, a fifth in a row, was voted by a 5:1 majority.

All members of the MPC voted to reduce the policy repo rate and to continue with the accommodative stance of monetary policy. Dr. Chetan Ghate, Dr. Pami Dua, Dr. Michael Debabrata Patra, Shri Bibhu Prasad Kanungo and Shri Shaktikanta Das voted to reduce the repo