RBI has cut down repo rate by 25 basis point from 6.5% to 6.25% with immediate effect. The reverse repo rate under the LAF stands adjusted to 6.0% and the marginal standing facility rate and the bank rate to 6.5%. The decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4% within a band of +/- 2 % while supporting growth.
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