RBI cuts repo rate by 35 basis points |
For the fourth straight time in a row, the Reserve Bank of India on Wednesday cut its benchmark repo rate by 35 basis points. The announcement was made after the third bi-monthly policy review by the Monetary Policy Committee, led by RBI Governor Shaktikanta Das. The benchmark rate is now at the lowest since April 2010. Market participants have been waiting to see the outcome of the meeting as both share market and Indian Rupee fell badly in the past few days.
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