The Monetary Policy Committee has cut the repo rate by 25 bps to 5.75%, all the members voted in favour of a rate cut<br />The RBI has changed its policy stance to accommodative from neutral<br />The central bank cuts its FY20 GDP growth forecast to 7% from 7.2%<br />It raised its H1 FY20 consumer inflation estimate to 3-3.1% from 2.9-3%<br />The transaction charge for RTGS, NEFT systems will be scrapped<br />The repo rate is at its lowest level since July 2010<br />Draft for “on-tap” licensing of small finance banks will be issued by August-end<br />
