Mumbai, June 2 (ANI): The Reserve Bank of India (RBI) on Tuesday announced a cut in Repo Rate by 25 basis points to 7.25 percent from 7.5 percent in the monetary policy review. The Central bank has kept the Cash Reserve Ratio (CRR) unchanged at four percent. RBI Governor Raghuram Rajan said that low domestic capacity utilization, mixed indicators of recovery, and subdued investment and credit growth had warranted the Central bank to announce cut in the policy rate. He also said that the banks should pass on the sequence of rate cuts into the lending rates.
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