Current context: Reserve Bank of India has cut the repo rate by 25 basis points in its fourth bi-monthly policy on 4th October 2019.
a. Forth
b. Fifth
c. Sixth
d. Seventh
- The cut has been made to 5.15% from 5.40% earlier, while the reverse repo rate has been adjusted to 4.90% and bank rate at 5.40 %.
- All the six members of the MPC voted in favour of a rate cut, which is the fifth rate cut in 2019.
- RBI continues with its accommodative monetary stance to revive economic growth ensuring inflation remains within the target range.
- RBI has revised the GDP outlook from 6.9% in previous Monetary Policy committee meet in August to 6.1% for 2019-20.
- RBI has revised the GDP outlook to 7.2% for 2020-21.
- On 1st October, the foreign exchange reserve stood at $434.6 billion which shows up of $21.7 billion over March-end 2019.
- RBI retains retail inflation projection at 3.5-3.7% for the second half of the year 2019.
Question:
Q.1 RBI has recently cut the repo rate by 25 basis points, which is the _____ rate cut in 2019?a. Forth
b. Fifth
c. Sixth
d. Seventh