The Reserve Bank of India (RBI) has cut the benchmark repo rate by 25 basis points, bringing it down from 6.25 per cent to 6 per cent. The announcement was made following a three-day meeting of the Monetary Policy Committee (MPC) that concluded on 9 April.

As per ANI, this is the second consecutive rate reduction this year, following a similar 25-bps cut in February. RBI Governor Sanjay Malhotra stated that the decision was unanimous and aimed at supporting economic revival amid global headwinds. “After a detailed assessment of the evolving macroeconomic and financial conditions and outlook, the MPC voted unanimously to reduce the policy repo rate by 25 basis points to 6 per cent with immediate effect,” said Malhotra.