Mumbai Aug 2 (IANS) Subdued inflation and demand prompted India s central bank the RBI on Wednesday to reduce its key lending rate by 25 basis points (bps).
According to the Reserve Bank of India s third bi-monthly monetary policy review of 2017-18 the repurchase rate or the short-term lending rate for commercial banks on loans taken from it stands lowered to 6 per cent from 6.25 per cent.
Subsequently the reverse repurchase rate or the short-term borrowing rate has been adjusted to 5.75 per cent from 6 per cent.
--IANS
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