Mumbai, Dec. 5 -- The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) on Friday unanimously decided to reduce the repo rate by 25 basis points to 5.25 percent with immediate effect, while retaining a 'neutral' monetary stance.
RBI Governor Sanjay Malhotra announced the policy decision after the conclusion of the three-day MPC meeting held from December 3 to 5.
The MPC voted unanimously to reduce the policy repo rate under the liquidity adjustment facility (LAF) to 5.25 percent.
Consequently, the standing deposit facility (SDF) rate shall stand adjusted to 5 percent and the marginal standing facility (MSF) rate and the Bank Rate to 5.50 percent, RBI Governor said in his speech.
Governor Malhotra said the Indian economy is pro...