RBI Governor Sanjay Malhotra announces a 25 basis point cut in the repo rate, lowering it to 6.25%, marking the first reduction in five years. The committee unanimously decided to maintain a neutral stance.

The former revenue secretary in the Ministry of Finance, Malhotra is expected to announce the cuts to lower interest rates for economy’s growth which is expected to reach a four year low.

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Governor Sanjay Malhotra revealed that banks will soon operate under an exclusive domain name, ‘fin.in,’ as a measure to curb cyber fraud. The registration process for this secure domain will begin in April 2025.

While new borrowers can expect banks to revise their rates soon, existing borrowers will typically see the benefit at their next reset date, which could be in six or twelve months, depending on their loan agreement.

The Reserve Bank of India’s monetary policy committee (MPC) today unanimously slashed the repo rate by 25 basis points to 6.25% after keeping the key policy rate unchanged for six consecutive times. The MPC also decided unanimously to continue with the 'neutral' policy stance.

RBI Governor Sanjay Malhotra stated that the bank's forex policy favors stable market operations without targeting any specific exchange rate. The Rupee hit a record low of 87.5825 before closing at 87.

The Reserve Bank of India (RBI) reduced its key repo rate on Friday for the first time since May 2020, aiming to provide stimulus to the sluggish economy, which is projected to grow at its slowest pace in four years during the current fiscal year.

On Friday, the Reserve Bank of India’s (RBI) six-member Monetary Policy Committee (MPC) reduced the repo rate, the rate at which the RBI lends to commercial banks by 25 basis points, bringing it down to 6.

RBI Governor Sanjay Malhotra has announced that the Monetary Policy Committee (MPC) has decided to cut the benchmark repo rate by 6.5%