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RBI cuts repo rate by 25 basis points, fifth cut in this year

Mar 03, 2020 19:39 IST
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The RBI has reduced report rate for the fifth time this year. The RBI monetary policy committee announced a 25 basis points cut in its policy rates from 5.40% to 5.15%. The RBI Governor also said that it would maintain an ‘accommodative stance’ as long as it is necessary to revive growth. The reverse repo rate was also adjusted to 4.90%. The central bank said the decisions are in consonance with its medium-term target of 4 per cent for consumer inflation.

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