RBI cuts repo rate by 25 basis points; reverse repo rate falls to 6.00 per cent

The Reserve Bank of India (RBI) on Thursday cut repo rate by 25 basis points, now at 6.25 from 6.5 per cent. The reverse repo rate stood at 6.00 per cent. In view of the surge in digital transactions, the Monetary Policy Committee of the Reserve Bank decided to implement ombudsman for digital transactions, which will be notified by the end of January next year.

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