RBI Cuts Repo Rate to 5.25%; Home, Car and Personal Loans Set to Get Cheaper
The Reserve Bank of India (RBI) today reduced the repo rate by 25 basis points, bringing it down from 5.5% to 5.25%. Governor Sanjay Malhotra announced the decision after the conclusion of the Monetary Policy Committee (MPC) meeting, signalling a continued push to support economic growth despite pressure from the weakening rupee. The rate cut […]
India’s Forex Reserves Near All-Time High Again, Cross $700 Billion Mark
India’s foreign exchange reserves have once again crossed the $700 billion mark, inching closer to their all-time high. According to data released by the Reserve Bank of India (RBI) on July 4, the reserves rose by $4.84 billion to $702.78 billion during the week ending June 27. This puts India’s forex buffer just short of […]