Liberal interest rate cut |
Amid government and industry pressure, Reserve Bank of India governor Raghuram Rajan in New Delhi on September 29, 2015, cut interest rate by 50 basis points, double of what was broadly anticipated and the biggest in more than three years. The cut brought down repo rate to 6.75 per cent, the lowest in four-and-half-years. Thus, he announced the fourth bi-monthly monetary policy.
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