1. RBI cuts repo rate by 25 basis points to 7.5 per cent
i. The Reserve Bank of India (RBI) has cut down repo rate by 25 basis points to 7.5 percent from 7.75 percent, with immediate effect citing that the fiscal consolidation was better than what numbers show and that the combined fiscal deficit is much lower due to the government transferring more funds to the states.
However, RBI has kept the cash reserve ratio (CRR) unchanged at 4 percent.
