
RBI cuts policy rate by 25 bps to 6.25 pc , first reduction in five years
Mumbai: The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy. The 25 basis points rate cut to 6.25 percent comes after the last rate reduction in May 2020. The last revision…