RBI Governor Sanjay Malhotra announces a 25 basis point cut in the repo rate, lowering it to 6.25%, marking the first reduction in five years. The committee unanimously decided to maintain a neutral stance.

The Indian economy, though continuing to remain strong and resilient, also did not remain immune to these global headwinds, with the Indian Rupee coming under depreciation pressure in the recent months.

The central bank has reduced key interest rates by 25 bps, a much-needed relief for liquidity boost, but has kept its stance 'neutral'