RBI monetary policy: Reserve Bank cuts repo rate by 25 bps to 6%

The Reserve Bank of India (RBI) on Thursday cut the repo rate by 25 basis points to 6 per cent in the first bi-monthly monetary policy meet of the financial year (FY) 2019-20. It was the first back-to-back rate cut by the central bank since the Monetary Policy Committee (MPC) was formed in late 2016. 

In its last policy meet (February) and the first under Governor Shaktikanta Das, the central bank had lowered the repo rate by 25 basis points (bps) or 0.25 per cent to 6.25 per cent and changed the policy stance to neutral from calibrated tightening, adopted