RBI Slashes Repo Rate By 50 Basis Points To 5.5%, Stance Now 'Neutral'

The Reserve Bank of India's Monetary Policy Committee, led by RBI Governor Sanjay Malhotra, cut the benchmark repo rate by 50 basis points for the third straight time, with the rate now standing at 5.5%. The first rate cut was in February this year, followed by another in April. Watch the video for the Governor's announcement.