Joyous News
RBI cuts repo rate by 50bps that is more than expected!
The Reserve Bank of India has shocked everyone by cutting repo rate by 50 bps to a four year low of 6.75% from 7.25%.
On the other hand, the cash reserve ratio has been kept unchanged at 4%. “Till January 2016 we will be able to achieve target of 6% inflation”, says RBI Governor Raghuram Rajan.