For 2nd time in 2 months, RBI cuts Repo rate to 6%
Since the appointment of the new RBI chief Shaktikanta Das, this is the 2nd time the Repo rate has cut down to 6% by 25 basis point. The cut down came on Wednesday after 4 out of 6 members supported change while 2 others were against it. The Reserve Bank of India has calculated a GDP growth of 7.2% for 2019-20. In the previous review meeting, the Repo rate was cut down to 6.25% from 6.50%.