Brief by Shorts91 Newsdesk / 05:13am on 07 Feb 2025,Friday India
The Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 6.25% in its first Monetary Policy Committee (MPC) meeting under Governor Sanjay Malhotra. The move aims to inject liquidity into the market, following a previous decision to keep the rate at 6.5%. The Sensex dropped 192 points, while Nifty fell by 73 points after the announcement. Malhotra projected a 6.75% GDP growth for the next year and emphasized the stability of commercial banks. The RBI reaffirmed its commitment to inflation targeting, stating it has served the Indian economy well.
