India's central bank on Tuesday cut its key lending rate by 25 basis points in line with overall expectations, comforted by the central government's fiscal prudence steps, a cut in interest rates on small savings rates and moderate inflation. The repurchase rate, or the short-term lending rate for commercial banks on loans taken from the central bank, stands lowered to 6.5 percent from 6.75 percent, while the reverse repurchase rate, or the short-term borrowing rate, has been adjusted upward to 6 percent from 5.75 percent. The changes were carried out in the monetary policy for the current fiscal announced by Reserve Bank of India (RBI) Governor Raghuram Rajan here on Tuesday.<br /><br />Connect with us on Social platform at: https://www.facebook.com/Inkhabar<br />Connect with us on Social platform at: https://twitter.com/Inkhabar<br />Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia<br />http://www.inkhabar.com/
