National Current Affair. RBI cuts Repo Rate by 35 basis points; lowers GDP growth forecast to 6.9 percent Reserve Bank of India (RBI) cuts repo rate by 35 basis points (bps) in its third bi-monthly policy review of the financial year 2019-20. It was RBI’s fourth continues rate cut in a row. Six-member Monetary Policy Committee (MPC) of the RBI decided to cut the repo rate on the basis of an assessment of the current and evolving macroeconomic situation. As per the information released by RBI, CPI inflation is projected at 3.1% for Q2 FY20 and 3.5-3.7% for H2 FY20. The MPC led by RBI Governor Shaktikanta Das decided to: • Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points (bps) from 5.75 percent to 5.40 percent with immediate effect. • Consequently, the reverse repo rate under the LAF stands revised to 5.15%, and the marginal standing facility (MSF) rate and the Bank Rate to 5.65%. • The MPC also decided to maintain the accommodative stance of monetary policy. - Study24x7
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Daily Current Affairs
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National Current Affair. RBI cuts Repo Rate by 35 basis points; lowers GDP growth forecast to 6.9 percent Reserve Bank of India (RBI) cuts repo rate by 35 basis points (bps) in its third bi-monthly policy review of the financial year 2019-20. It was RBI’s fourth continues rat...

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