RBI cuts rate by 50 basis points on 29th September 2015
Q. By how many basis points did RBI cut the rate on 29th September 2015?- Published on 30 Sep 15a. 25
b. 50
c. 75
d. None of the above
ANSWER: 50
Central Bank governor Raghuram Rajan has cut the rate by 50 basis points. Most economists had predicted a quarter cut in rates. This is the biggest move since the 2009 international recession and RBI also engaged with the ministry regarding reform of the central bank to establish a monetary policy committed to set rates. In another positive sign, the largest state owned bank SBI indicated it would cut main lending rate by 0.4 percentage points. Focus should be on bringing inflation to around 5% by March 2017.
