The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.

Reserve Bank of India (RBI) governor Sanjay Malhotra has announced the Monetary Policy Committee has cut the benchmark repo rate by 26 basis points.

The Reserve Bank of India reduced the repo rate by 25 basis points, lowering it to 6.25%, under the leadership of new Governor Sanjay Malhotra. The decision was influenced by a resilient Indian economy amidst global uncertainties and marked the first reduction since May 2020.