Mumbai, April 9 -- The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday announced a 25-basis-point (bps) cut in the repo rate, reducing it from 6.25 per cent to 6 per cent, to support economic growth amid growing global uncertainties.

Announcing the decision after the MPC's three-day meeting held on April 7, 8, and 9, RBI Governor Sanjay Malhotra stated, "After a detailed assessment of the evolving macroeconomic and financial conditions and outlook, the MPC voted unanimously to reduce the policy repo rate by 25 basis points to 6 per cent with immediate effect."

This marks the second consecutive rate cut in recent months. On February 7, the central bank had reduced the repo rate from 6.5 per cent to 6.25 per cen...