
Industry Hails RBI 50 bps Rate Cut as Growth Catalyst, Cautions on Deposit Returns
RBI reduced the repo rate by 50 basis points, bringing it down from 6.00% to 5.50%, following the Monetary Policy Committee (MPC) meeting chaired by Governor Sanjay Malhotra on Friday.NEW DELHI: In a major relief to borrowers, the Reserve Bank of India ( …