India's new central bank governor Sanjay Malhotra cut interest rates by 25 basis points to 6.25%, aiming to support a slowing economy. The monetary policy committee's decision disappointed some investors seeking more proactive measures.

The RBI Governor Sanjay Malhotra delivered the first interest rate cut in nearly five years. The RBI MPC reduced the repo rate cut to 6.25% from 6.50%.

New RBI Governor Sanjay Malhotra, who is chairing his first Monetary Policy Committee (MPC) meeting, will announce the decision of the six-member panel on Friday morning, amid widespread expectations of 25 basis points reduction in interest rate after a gap of nearly five years.

India’s new central bank governor cut interest rates for the first time in almost five years on Friday to help spur a slowing economy as global risks intensify.

The Reserve Bank of India seeks to boost the sluggish economy and sees inflation easing towards its 4% target.

New central bank governor Sanjay Malhotra loosens monetary policy despite high inflation hitting consumer spending

India Inc cheered the RBI's move to slash the benchmark interest rate for the first time in nearly five years on Friday and asserted that it will complement the consumption-boosting measures announced in the last week's budget,