RBI cuts repo rate by 25 bps
The repo rate has been slashed from 7.75 per cent to 7.5 per cent with immediate effect.
The cash reserve ratio (CRR) of scheduled banks was kept unchanged at 4.0 per cent of net demand and time liabilities (NDTL).
"Consequently, the reverse repo rate under the LAF stands adjusted to 6.5 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 8.5 per cent with immediate effect," the RBI said in a statement.
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