RBI cuts repo rate, reverse repo rate in its bi-monthly monetary policy

Reserve Bank of India in its bi-monthly monetary policy has reduced repo rate by 25 basis points to 6.25 per cent. RBI's six-member monetary policy committee also brought down reverse repo rate to 6 per cent. The repo rate is the rate at which the Reserve Bank lends short-term money to the banks, while the reserve repo rate is the rate at which the central bank borrows money from commercial banks. It was the first policy review by the RBI after appointment of its governor Shaktikanta Da...