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RBI cuts repo rate again
Highlights
RBI Cuts Repo Rate Again. After a long lull between RBI and Modi government, the central bank lowered its repo rates by 25 basis points to 7.5 per cent on Wednesday, There by it deliveed its second cut since January on the back of easing inflation and a government commitment to fiscal discipline.
After a long lull between RBI and Modi government, the central bank lowered its repo rates by 25 basis points to 7.5 per cent on Wednesday, There by it deliveed its second cut since January on the back of easing inflation and a government commitment to fiscal discipline.
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The central bank had lowered interest rates by 25 bps on January 15. Both rate cuts this year have taken place outside of the central bank’s scheduled policy review meetings.
The rate cut marks a vote of faith in the Modi government, which on Saturday pledged to be fiscally responsible but wanted at least an additional year to meet a fiscal deficit target of 3 per cent of GDP.
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