The Reserve Bank of India (RBI) maintained its policy rate at 6.5% but lowered the economic growth forecast for 2024-25 to 6.6% from 7.2%. A CRR cut to 4% will release ₹1.6 lakh crore for banks. The RBI acknowledged a recent economic slowdown but anticipates a recovery driven by festive demand and improved agricultural output.
RBI cuts CRR 50 bps, trims FY25 GDP forecast to 6.6%
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