ECONOMY NEWS: RBI cut repo rate by 25bps to 6.25%

The Reserve Bank of India (RBI) cut repo rate by 25bps to 6.25%. Reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75%. All six members of the monetary policy committee voted in favour of cutting repo rate. (IE)

The Centre and the Maharashtra government have arrived at a consensus on the development of a mega refinery and petrochemical complex in the Konkan region. (BS)

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