RBI bi-monthly MPC review: Repo rate cut by 50 bps to 5.5%
The Reserve Bank of India in its second bi-monthly monetary policy review in the backdrop of favourable macros on expected lines reduced repo rate cut by 50 basis points to 5.5 per cent.1 basis point is one-hundredth of a percentage point. The June MPC review came at a time when the economy has achieved a one-year high…