Mumbai, June 6 -- The Reserve Bank of India MPC voted to reduce the policy repo rate by a larger than expected 50 basis points (bps) to 5.50 per cent with immediate effect, after assessing the current and evolving macroeconomic situation. Further, the central bank also reduced CRR rate by 100 bps although in four tranches starting from September. Thus, amid sustained soft inflation well below the target and with signs of a broad-based moderation, RBI said it is imperative to continue to stimulate domestic private consumption and investment through policy levers to step up the growth momentum. This changed growth-inflation dynamics calls for not only continuing with the policy easing but also frontloading the rate cuts to support growth, R...