MUMBAI -- The Reserve Bank of India on Friday cut its key interest rate for the first time since May 2020, as concerns about a slowing economic growth rate appeared to take precedence over sticky inflation and a weakening rupee.
The central bank cut its repo rate by 25 basis points to 6.25%, as widely expected. This is also the first change to the key interest rate since February 2023, when it was hiked to 6.50%.
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