RBI cuts repo rate by 25 basis points to 6.5%
The RBI cut the repo rate by 25 basis points to a five-year low of 6.5% in its bi-monthly monetary policy review meeting on Tuesday. The key interest rate was earlier cut by 125 basis points in 2015. Further, the RBI increased the reverse repo rate by 25 basis points to 6% while maintaining the cash reserve ratio at 4%.