The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is responsible for setting the nation’s key interest rates, particularly the repo rate, which influences borrowing costs across the economy.

Due to some commitments, like international meetings that we have at that time, RBI has not been able to push MPC meetings to the middle of a month, says new RBI governor