New Delhi/IBNS, Feb. 7 -- The Reserve Bank of India (RBI) on Friday reduced the repo rate by 25 basis points from 6.5% to 6.25% in another step to boost the economy, media reports said.

This is the first time in five years the RBI has reduced the repo rate.

The last time when the rate was reduced was in May 2020.

RBI Governor Sanjay Malhotra said India is not immune to the challenging global economy, which is growing at a slower rate.

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025 with a focus on encouraging private investment, assuaging the middle-income constituency and strengthening growth.

Amid high food inflation and shrinking disposable incomes that affected the country's growth story, the FM, who has...