04 March 2015: RBI cuts repo rates by 25 basis points now new rates are 7.5% which is earlier a 7.75%. “It has been decided to reduce the policy repo rate under the liquidity adjustment facility by 25 basis points from 7.75% to 7.5% with immediate effect,”.
RBI has been given a flexible inflation target of 4% in the medium term.
After the announcement of Cut in Repo Rates sensex touched record high of 30K+.
State Bank of India (up 2.3 per cent), ICICI Bank (up 2.1 per cent), HDFC Bank (up 1.8 per cent), HDFC (up 1.8 per cent) were among the major Sensex gainers.