RBI cuts policy rates; vows to ease as long as necessary

The Reserve Bank of India Governor Shaktikanta Das on Friday announced a policy rate cut for the fifth consecutive time to give a renewed push to a slowing economy while assuring that an accommodative policy stance will be maintained till growth revives. RBI lowered its repo rate, which is the rate at which banks borrow from RBI, by 25 basis points to 5.15%, in line with the forecast of bankers and economists surveyed by Mint.

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