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Why RBI had to go for another rate cut before schedule


RBI cut the repo rate by 40bps. More steps by the central bank are likely to follow over the next few months, but now the focus could move more towards those who have not benefitted much from previous steps.

With this, RBI has eased the repo rate by a total of 115bps since mid-March.

By Pranjul Bhandari & Aayushi Chaudhary
In a move that came a fortnight before schedule, the MPC delivered a 40bps repo rate cut, taking the repo rate to 4%. All six members voted for a rate cut, and five of the six voted for the 40bps ...


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