RBI announces cut in Repo Rate

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  • While reviewing the monetary policy, RBI has announced cut in Repo Rate by 25 BPS to 6%, lowest since November, 2010.
  • Out of 6 members of Monetary Policy Committee, 4 voted in favour of rate cut.
  • Reverse Repo rate has been adjusted at 5.75% and Bank rate at 6.25%.
  • Markets were expecting such a rate cut.
  • Manufacturing
  • Overall growth has been projected at 7.3%
  • As global interest rates are soft and Forex market is more or less stable.
  • There is immediate fall in the SENSEX and NIFTY on the announcement of rate cut.
  • Borrowers to get benefit of this rate cut, if banks pass on this rate cut to borrowers.

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