On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC), headed by Urjit Patel, decided to reduce the Policy Repo Rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.
Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.
Important Takeaways from Above News-
- Dr. Urjit Patel is the 24th Governor of RBI.
- RBI is headquartered in Mumbai.