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RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth

Slashing policy rates for the second time in a row, the Monetary Policy Committee of the Reserve Bank of India today unanimously announced a reduction of 25 basis points in the policy repo rate, bringing it down to 6 percent. Consequently, the standing deposit facility -SDF rate under the liquidity adjustment facility shall stand adjusted to 5.75 percent and the marginal standing facility - MSF rate and the Bank Rate to 6.25 per cent. In February this year, the MPC lowered the repo rate by 25 ba...