The RBI slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US
Malhotra says “We have included finance to small renewable energy projects – solar, biomass based, windmills, micro-hydel plants and non-conventional energy based public utilities viz street lighting systems, and remote village electrification projects as part of priority sector lending”
This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services, says RBI
The bank has kept the repo rate unchanged at 6.5 per cent since February 2023; the last time the RBI had reduced the rate was during Covid times and thereafter, it was gradually raised to 6.5 per cent
