Sunday 18 Aug, 2019

RBI reduces interest rates

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RBI has reduced interest rates. The Monetary Policy Committee (MPC) has decided to cut interest rates by changing the previous stand.

This is the first announcement of the loan policy of Shakanda Das after the Reserve Bank of India Governor. The RBI had fixed a base rate of 25 basis points to 6.25 per cent. The reverse repo rate dropped to 6 per cent.

The downward trend in economic growth has led to a decrease in interest rates. The decision was taken by MPs, with a vote of 4: 2. The policy was brought to the neutral level.

This is the first time since August 2017. Last year, there was an increase in 50 basis points.

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