Highlights of RBI's monetary policy

The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy.

• Repo rate (short-term lending rate) reduced by 25 bps to 6.25 pc;

• First rate cut after a gap of 5 years; last reduction was in May 2020;

• To continue 'neutral' monetary policy stance;

• GDP growth for FY'26 projected at 6.7 pc;

• Inflation to come down to 4.2 pc in FY'26 from 4.8 pc in FY'25;

• Food inflation pressures likely to see significant softening;

• Core inflation expected to rise but remain moderate;

• Banks to have 'bank.in' internet domain name, non-banks 'fin.in';

• RBI says global economic backdrop remains challenging;

• Indian economy continue to remain strong, resilient;

• CAD expected to remain well within sustainable level;

• As on Jan 31, India's forex reserves stood at USD 630.6 billion, providing import cover of over 10 months;

• Next meeting of Monetary Policy Committee scheduled for April 7-9.