 "REPO RATE, RBI")
If you were walking on Mumbai’s Mint Road on Friday, where India’s central bank is headquartered, you would have seen fireworks. Yes, the Reserve Bank of India (RBI) has brought Diwali four and a half months early for consumers this year.
The RBI reduced the policy repo rate for a third successive time, which was widely expected. But what was not expected was the depth of the rate cut — 50 basis points (bps). The three rate cuts since February have brought the policy repo rate down from 6.5 per cent to 5.5 per cent in just four months. One
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