Mumbai, June 7 -- The Reserve Bank of India's (RBI) Monetary Policy Committee on Friday cut the repo rate by 50 basis points (bps) to 5.50%. This is the third straight rate cut, leading to a cumulative reduction of 100 bps since the easing cycle began in February. As part of the monetary policy decision to support growth, the committee also reduced the cash reserve ratio (CRR)-the amount of funds that banks need to park with RBI-by 100 bps. However, the rate-setting panel changed the policy stance from 'accommodative' to 'neutral', citing limited headroom for monetary policy to support growth. How will RBI's actions impact bank customers? The Reserve Bank of India's 50 bps rate cut on Friday is likely to lead to a reduction in deposit inter...