RBI moves to boost a flagging Indian economy3 min read . Updated: 05 Apr 2019, 05:56 AM IST
- RBI goes for second successive repo rate cut, retains neutral policy stance, lowers projections for both GDP growth and inflation
- RBI will use all instruments—including forex swaps and OMO purchase—for liquidity infusion, says governor Shaktikanta Das
Mumbai: The Reserve Bank of India (RBI) on Thurday carried out a second successive interest rate cut in a span of two months while maintaining a neutral monetary policy stance, reflecting the central bank’s concerns about sluggish economic growth in India and abroad. The central bank cut its benchmark repo rate by 25 basis points (bps) to 6% on Thursday. One basis point is one-hundredth of a percentage point.
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