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RBI lowers repo by 25 bps in first cut since Aug 2017

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In a major policy shift, the six-member monetary policy committee (MPC) headed by Governor Shaktikanta Das on Thursday lower the repo rate by 25 basis points to 6.25 per cent in 4-2 vote. RBI has thus cut rate for the first time in 17 months. The last rate cut happened in August, 2017.

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