RBI Cuts Repo Rate to 5.5% and Reduces CRR to Boost Economy
Key Points
- The Reserve Bank of India unexpectedly slashed the repo rate...
Breaking news: India's central bank just pulled a classic "hold my chai" moment by slashing interest rates when almost nobody saw it coming. The Reserve Bank of India (RBI) dropped the repo rate by a whopping 50 basis points to 5.5%, leaving most economists scratching their heads and updating their spreadsheets.
Banking on Better Times
The RBI didn't stop there - they also cut the Cash Reserve Ratio to 3%, effectively dumping Rs 2.5 lakh crore into the banking system. That's like opening all the taps at once and telling banks, "Here's your water park, go wild with the lending!"
India rem...
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