RBI cuts repo rate by 25bps, CRR unchanged

New Delhi, March 19 (ANI): The Reserve Bank of India (RBI) in its mid-quarter monetary policy review on Tuesday cut the repo rate by 25 basis points to 7.5%, while the Cash Reserve Ratio (CRR) was kept unchanged. The policy action was in expected lines. Earlier in January the RBI had reduced the repo rate by 25 basis points to 7.75 cent after holding it steady for nine months. The current account deficit hit a record-high 5.4 per cent in the September quarter and is expected to end the 2012/13 fiscal year at its highest level ever.