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RBI reduces Repo rate by 25 bps to 6.25%, first cut in 18 months

Following the three-day meeting of RBI's Monetary Policy Committee (MPC), The Central Bank, first monetary policy under Governor Shaktikanta Das, decided to lower repo rate by 25 bps from 6.5% to 6.25%. This is the first cut since Aug 2107. It has also changed the stance to neutral. RBI pegs GDP growth for 2019-20 at 7.4%. The reverse repo rate under the LAF stands adjusted to 6.0% and and the Bank Rate to 6.5%