RBI MPC LIVE: Repo Rate Hiked to 5.5%, CRR Cut to 3%

LIVE Updates from the RBI MPC Meeting:  At today's Monetary Policy Committee (MPC) meeting, the Reserve Bank of India (RBI) decreased repo rates by 25 basis points (bps), the inflation estimate by 30 basis points, and the cash reserve ratio by 100 basis points.

The CRR cut alone is expected to discharge ₹2.5 lakh crore into the financial sector. This is significantly more than the market had anticipated, and the excitement was evident. Nifty Bank surged more than 500 points from the day's low following Governor Sanjay Malhotra's remark.

A CNBC-TV18 poll predicted a 25 basis point rate decrease. According to the survey, low inflation and slower-than-expected growth are essential drivers of the projected move. Inflation has remained below the RBI's 4% objective, and first-quarter GDP growth is anticipated to fall short of previous estimates.