New Delhi, June 6 -- The Reserve Bank of India (RBI) on Friday announced its second bi-monthly monetary policy of FY26. The RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) decided to cut the repo rate by 50 basis points (bps) to 5.50% from 6.00% earlier. This is the central bank's third consecutive repo rate cut.

The MPC also decided to change the policy stance to 'Neutral' from 'Accommodative', RBI Governor Sanjay Malhotra announced in his monetary policy speech.

Malhotra also announced that the MPC decided to cut the Cash Reserve Ratio (CRR) by 100 basis points (bps) to 3% from 4% earlier in four tranches of 25 bps each starting from September 6, October 4, November 1 and November 29 this year.

CRR cut to release pri...