New Delhi, Feb. 7 -- After nearly five years, the Reserve Bank of India (RBI) cut the benchmark repo rate by 25 basis points on Friday, February 7, signalling a coordinated effort with the government to revive India's slowing economy. The RBI's Monetary Policy Committee (MPC) cut the repo rate by 25 bps and kept the policy stance as 'neutral'.

Although the policy decision largely met expectations, Indian stock market benchmarks-the Sensex and Nifty 50-experienced significant volatility. The Sensex fluctuated by over 600 points, while the Nifty 50 swung between an intraday high of 23,694.50 and a low of 23,493.60 during the session.

MOre to come.

Published by HT Digital Content Services with permission from MINT....