The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.

Reserve Bank of India (RBI) governor Sanjay Malhotra has announced the Monetary Policy Committee has cut the benchmark repo rate by 26 basis points.

The RBI has reduced the repo rate by 25 basis points to 6.25%, maintaining a neutral stance. Governor Sanjay Malhotra said that inflation is easing, supported by a favourable food price outlook. Food inflation is expected to decline further,