Tuesday, September 29, 2015

RBI announces Interest Rate Cut

The Reserve Bank of India on Tuesday cut its key policy rate, repo rate, by 50 basis points to 6.75 percent against expectations of a 25 bps cut to spur demand in the economy, which the central bank said is crucial to growth in an environment of multiple global headwinds.

Market experts and analysts reacted to the RBI move with a sense of surprise and elation. They said the move was timely and would go a long way in providing the much-needed boost to the economy and the financial market .. 

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