The former revenue secretary in the Ministry of Finance, Malhotra is expected to announce the cuts to lower interest rates for economy’s growth which is expected to reach a four year low.

The Reserve Bank of India announced a 25 basis point cut in the repo rate, now at 6.25%, the first reduction in five years. The decision

Please follow this space for all the breaking news and latest updates from the stock market, economy, and corporate world

Governor Sanjay Malhotra revealed that banks will soon operate under an exclusive domain name, ‘fin.in,’ as a measure to curb cyber fraud. The registration process for this secure domain will begin in April 2025.

As per a Reuters poll, more than 70% of respondents expect that RBI would change the repo rates by 25 basis points to 6.25%. However, others expect that the rates would remain unchanged as the inflation is still above the target range set by the Reserve Bank.

The Reserve Bank of India’s monetary policy committee (MPC) today unanimously slashed the repo rate by 25 basis points to 6.25% after keeping the key policy rate unchanged for six consecutive times. The MPC also decided unanimously to continue with the 'neutral' policy stance.

RBI Governor Sanjay Malhotra stated that the bank's forex policy favors stable market operations without targeting any specific exchange rate. The Rupee hit a record low of 87.5825 before closing at 87.

The RBI's Monetary Policy Committee cut the repo rate by 25 bps for the first time in nearly five years, maintaining a neutral stance. Governor Sanjay Malhotra noted inflation aligns with targets amid concerns over economic growth and signs of inflation nearing 4 per cent.