RBI cuts repo rate by 25 basis points, slashes GDP growth estimates
Economist had expected RBI to cut repo rate by 25 basis points
Retail inflation remained below the RBI's medium-term target of 4% for a 13th straight month in August
The Reserve Bank of India (RBI) today cut its benchmark interest rates (repo rate) for the fifth time this year to boost economic growth. The RBI today cut repo rate by 25 basis points to 5.15%, which takes its cumulative cuts so far this year to 135 bps. The RBI also cut its GDP growth estimates to 6.1%, from earlier estimate of 6.9%.