RBI cuts Repo Rate by 25 Basis Points to 7.75%

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New Delhi, Jan 15: The Reserve Bank of India (RBI) on Thursday cut its repo rate by 25 basis points to 7.75 per cent giving huge relief to the borrowers. This is the first reduction in a year that showed the efforts taken by the government to minimise the inflation.

Following the move, the Sensex jumped gained over 600 points to 27,947 and the Nifty jumped over 2 per cent above the 8,450 mark today. The Indian rupee also rose by 46 paise to 61.72 against the US dollar in early trade.

The central bank said that the decision was taken as the inflation was lower than expected, the crude prices were weak also the demand was slow.

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