RBI Cuts Repo Rate by 25 bps to 5.75%

RBI Cuts Repo Rate by 25 bps to 5.75%

• The monetary policy committee (MPC), headed by RBI Governor Shaktikanta Das, has on June 6, 2019, decided to reduce key repo rate by 25 basis points to 5.75 percent from 6.0 percent with immediate effect.
• This is the third time in a row that the central bank has cut key rates this calendar year. 
  • Repo rate – 5.75 percent
  • Reverse repo rate – 5.50 percent
  • Marginal standing facility (MSF) rate – 6.0 percent
  • Bank Rate – 6.0 percent
• The MPC has also changed the stance of monetary policy from neutral to accommodative.
• GDP growth for 2019-20 is revised downwards to 7.0 percent