RBI cuts rate from 6.75% to 6.50% with 25 bps cut, Rajan sets stage for cheaper loans

摘要

In a widely expected move, RBI Governor Raghuram Rajan kicked off the new financial year cutting the repo rate by 25 basis points (bps) on 5th April. In the first bi-monthly monetary policy for 2016-17, Rajan also announced a slew of liquidity enhancement measures, including a reduction of the minimum daily maintenance of Cash Reserve Ratio (CRR) in the banking system.