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RBI cuts repo rate by 25 basis points to 6 percent


RBI cuts repo rate by 25 basis points to 6 percent

Mumbai, Aug 02 (ANI): The Reserve Bank of India (RBI) on Wednesday presented its third monetary policy review for the current fiscal year, in which it cut the repo rate by 25 basis points to 6 percent. RBI Governor Urjit Patel said that Inflation has fallen significantly in last three months due to implementation of GST and well distributed rainfall during the monsoons.

He also said that inflation is expected to increase with the current fiscal. The RBI's Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel met for 6th time since its inception.

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