RBI cuts repo rate by 50 bps
Updated on Apr 17, 2012 03:33 pm IST
In a surprise move, the Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points for the first time in the last three years. Addressing the media, RBI Governor said that the decision is being taken to give a boost to the flagging economic growth and there is limited space for further rate cut.
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