RBI surprises markets with 50 bps cut in repo rate
In an unexpected move, the Reserve Bank of India today cut its policy rate by 50 basis points to 6.75 percent giving a much-needed push for the faltering growth as inflation is following its projected trajectory.
It has in fact reduced its inflation projection to 5.8 percent for January 2016, from the earlier 6 percent, but growth estimate to 7.4 percent for 2015-16 from 7.6 percent.
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It has in fact reduced its inflation projection to 5.8 percent for January 2016, from the earlier 6 percent, but growth estimate to 7.4 percent for 2015-16 from 7.6 percent.
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