RBI cuts repo rate by 25 base points to 6 per cent; reverse repo rate falls to 5.75 per cent

The Reserve Bank of India Thursday cut repo rate by 25 base points to 6.00 percent. The reverse repo rate, meanwhile, fell to 5.75 percent. The bank retained "neutral" monetary policy stance and projected the GDP growth for 2019-20 at 7.2 per cent. The Reserve Bank of India also revised downward retail inflation estimate to 2.4 per cent in Q4 FY19, 2.9-3 per cent in H1 FY20 and 3.5-3.8 per cent in H2 FY20, mainly due to lower food and fuel prices as well as expectation of a normal rainy season.

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