The Reserve Bank of India (RBI) on Thursday cut its key interest rate by 25 basis points or 0.25 per cent to 6 per cent, in a widely expected move to propel the economy. Announcing a back-to-back cut in the repo rate just a week before the national election, the RBI's monetary policy committee also maintained its neutral stance on the trajectory of interest rates going ahead. The central bank had reduced the benchmark lending rate by 25 basis points in February after an 18-month gap

The Reserve Bank of India (RBI) on Thursday cut its key interest rate by 25 basis points or 0.25 per cent to 6 per cent, in a widely expected move to propel the economy. Announcing a back-to-back cut in the repo rate just a week before the national election, the RBI's monetary policy committee also maintained its neutral stance on the trajectory of interest rates going ahead. The central bank had reduced the benchmark lending rate by 25 basis points in February after an 18-month gap