RBI Monetary Policy, Feb. 7 -- The new Reserve Bank of India (RBI) Governor Sanjay Malhotra delivered a 25 basis points rate cut on Friday, February 26, the first such move by the country's central bank in almost five years, in a bid to spur the slowing Indian economy. The RBI money policy committee (MPC) voted unanimously to cut the repo rate and maintained its monetary policy stance at "neutral".

The MPC noted that though growth is expected to recover, it is much lower than last year and inflation dynamics have opened space for rate easing, RBI governor Sanjay Malhotra said in the first policy review since his appointment in December.

Commenting on the consumer price inflation (CPI), the RBI Governor said the core inflation has modera...