RBI’s monetary policy committee (MPC), led by Governor Shaktikanta Das, announced 25 basis points cut in the short-term lending rate, also known as repo or repurchase rate, in its first bi-monthly rate review of the financial year 2019-20. The repo rate now stands at 6 per cent. Pranjul Bhandari of HSBC’s Chief India Economist speaks on RBI rate cut.
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