RBI cuts key interest rate by 0.25 pc to 6%


Team Udayavani, Apr 4, 2019, 12:27 PM IST

Mumbai: The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent for the second time in a row to bring interest rate to the lowest level in one year on softening inflation.

The central bank, however, kept monetary policy stance at ‘neutral’.

In the second policy review under Governor Shaktikanta Das, the six-member Monetary Policy Committee voted 4:2 in favour of the rate cut.

The benchmark interest rate was cut by 0.25 per cent to 6 per cent, a move that will result in lower cost of borrowing for the banks that are expected to transmit the same to individuals and corporates.

The RBI had on February 7 had last cut interest rate to 6.25 per cent from 6.5 per cent.

Last time repo rate stood at 6 per cent was in April 2018.

The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4 per cent level while supporting growth, RBI said in a statement.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Women centric schemes game-changer for Maharashtra, Jharkhand?

AR Rahman sends notice to ‘slanderers’ over speculations surrounding separation with Saira Banu

No anti-government sentiment in Kerala, claims CM Vijayan

Jaiswal’s Perth Simulation: 200 overs in 2 days, inclined concrete slab, lighter synthetic balls

PCB says no meeting with ICC, BCCI officials on November 26 to resolve CT imbroglio

Australia coach McDonald surprised about behaviour of wicket on Day two

Sharad Pawar: Assembly poll rout raises question of existence for patriarch’s political legacy

Related Articles More

Never entered into pact to operate airport in Kenya: Adani

None of Adani portfolio cos subject to any legal case: Group CFO on promoter indictment in US

Binny Bansal steps down from board of PhonePe

MSEZ partners with Italy’s MIR Group for Rs 1,500 cr green facility

Sony India bags ACC media rights for eight years

MUST WATCH

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation


Latest Additions

Satwik, Chirag doubles pair bows out of China Masters semifinals

Puttur: Two arrested for misconduct under influence of drugs

Kaup: Massive campaign and awareness rally Nov 26 for Constitution protection

Never entered into pact to operate airport in Kenya: Adani

Women centric schemes game-changer for Maharashtra, Jharkhand?

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.