The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI), under the leadership of new Governor Sanjay Malhotra, announced a 25 basis point reduction in the repo rate for the first time in five years,

The central bank has reduced key interest rates by 25 bps, a much-needed relief for liquidity boost, but has kept its stance 'neutral'

The Indian economy, though continuing to remain strong and resilient, also did not remain immune to these global headwinds, with the Indian Rupee coming under depreciation pressure in the recent months.