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Published On : Wed, Aug 7th, 2019

By Nagpur Today

RBI cuts repo rate to 5.4%, GDP down to 6.9%

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Reserve Bank of India cuts Repo Rate by 35 basis points to 5.40% and the Reverse Repo rate at 5.15%. RBI trims GDP growth forecast for current fiscal to 6.9% from 7% previously predicted.

RBI maintains accommodative stance for monetary policy; says inflation to remain within targeted band. CPI inflation is projected at 3.1 per cent for Q2 FY20 and 3.5-3.7 per cent for H2 FY20.

More details awaited.