RBI’s Raghuram Rajan announced 50 bps rate

Reserve Bank of India(RBI) Governor Raghuram Rajan went with the majority view of external members on the Technical Advisory Committee (TAC) on the policy rate to announce the rate cut.

• RBI, cut its benchmark policy rate- the repo rate by 50 bps to 6.75% to kick start economic activity on September 29.

Technical Advisory Committee (TAC):

• Technical Advisory Committees (TACs) advise the Department of Commerce on the technical parameters for export controls applicable to dual-use commodities and technology and on the administration of those controls.
• TAC members are appointed by the Secretary of Commerce and serve terms of not more than four consecutive years.

RBI Headquarters : Mumbai, Maharashtra