RBI cuts lending rate by 0.25% with immediate effect

January 15, 2015 09:10

The Reserve Bank of India has cut repo rate by 25 bps, a move that could bring relief to borrowers.

This will bring down the RBI's main lending rate to 7.75 per cent from 8 per cent earlier.

RBI Governor says inflation is likely to be below 6% by January 2016.

The governor says sustained fiscal consolidation key is to monetary easing and reiterated the government pledge to maintain fiscal deficit target.

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