INDIA, Dec. 5 -- RBI Governor Sanjay Malhotra on Thursday announced that the Monetary Policy Committee (MPC) has unanimously voted to reduce the policy repo rate by 25 basis points, bringing it down to 5.25% with immediate effect.

The decision reflects the MPC's assessment of prevailing economic conditions and aims to support growth while maintaining financial stability. The reduction in the key lending rate is expected to ease borrowing costs for consumers and businesses, potentially boosting credit offtake across sectors.

Further details on the committee's deliberations and the outlook for inflation and growth are expected to be outlined in the RBI's policy statement.

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