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INDIAN (B)

Repo rate lowest since 2010 after RBI’s third cut this year

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Emboldened by benign inflation and availability of buffer foodgrain stock, RBI’s monetary policy committee (MPC) voted unanimously to bring down the repo rate from 6% to 5.75% — the lowest since September 2010. Repo rate is the price commercial banks pay to the RBI for short-term funds. RBI also hinted at more cuts by changing its policy stance from “neutral” to “accommodative”.



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