The latest decision brings the repo rate from 6.50 per cent to 6.25 per cent. Sanjay Malhotra, the newly appointed RBI Governor, chaired his first Monetary Policy Committee (MPC)

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 repo rate, till now, stood at 6.5 per cent. The move comes barely a week after the Centre cut personal income tax to boost consumption.