Business Economy 02 Aug 2017 Watch: Urjit Patel s ...

Watch: Urjit Patel speaks after rate cut

DECCAN CHRONICLE.
Published Aug 2, 2017, 5:54 pm IST
Updated Aug 2, 2017, 5:57 pm IST
Central bank on Wednesday cut repo rate by 25 basis points to 6 per cent.
RBI governor Urjit Patel.
 RBI governor Urjit Patel.

Mumbai: The Reserve Bank of India governor Urjit Patel on Wednesday addressed a press conference after the central bank unveiled its monetary policy. RBI slashed repo rate by 25 basis points to 6 per cent from earlier 6.25 per cent. The rate cut was highly anticipated as retail inflation was at record low of 1.54 per cent in June. Besides, favourable monsoon spell also boosted chances of a reduction in key lending rate.  

 

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