New Delhi, Feb. 8 -- The Reserve Bank of India (RBI) announced its first rate reduction in five years, with Governor Sanjay Malhotra expressing strong optimism about India's economic trajectory.

Consumer protection emerged as a key theme during the briefing, with Malhotra emphasising the RBI's zero-tolerance approach toward bank mis-selling practices.

The Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 6.25 percent, marking the first adjustment in two years. During the subsequent press briefing, Malhotra emphasised that achieving a 7 percent growth rate or higher should be a national aspiration for India.

The central bank maintained its growth projections, forecasting a GDP growth rate of 6.6 percent for FY25 an...