The Reserve Bank of India (RBI) reduced its key repo rate on Friday for the first time since May 2020, aiming to provide stimulus to the sluggish economy, which is projected to grow at its slowest pace in four years during the current fiscal year.

In a significant policy shift, the Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 6.25 per cent on Friday, marking the first reduction in four years. This move, unveiled  after the Monetary Policy Committee (MPC) meeting led by newly appointed Governor Sanjay Malhotra,