25-bp repo rate cut

The Reserve Bank of India (RBI) took advantage of subdued inflation and cut the repo rate, the key policy rate, by 25 basis points (bps) to 7.25 per cent with State Bank of India (SBI), the country’s largest lender, responding with a 15- bp base rate cut to 9.7 per cent. Allahabad Bank and Punjab & Sind Bank were the other two lenders that also announced base rate cuts.