RBI sticks to familiar script, cuts repo rate by 25 bps to 5.15%

The RBI's action was also influenced by central banks globally, especially those of the emerging markets

The Reserve Bank of India (RBI) in its fourth monetary policy review this fiscal year on Friday reduced the policy repo rate by 25 basis points (bps), and said the stance would continue to remain “accommodative as long as it is necessary to revive growth”, which the RBI revised sharply down from its earlier projections for 2019-20.

The repo rate now stands at 5.15 per cent, which was widely expected by analysts, according to a Business Standard poll.

All six members of the Monetary Policy Committee (MPC) voted for a cut, even as external member Ravindra Dholakia wanted a deeper cut