INSUBCONTINENT EXCLUSIVE:
Shaktikanta Das said the RBI would ensure a "faster and higher" transmission by commercial banks
The Reserve Bank of India's Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, on Thursday unanimously lowered key lending
rate or repo rate by 25 basis points or 0.25 per cent to 5.75 per cent
The six-member committee also changed the policy stance to "accommodative" from "neutral"
Repo rate is the interest rate at which commercial banks borrow short-term funds from the RBI
The rate cut comes after official data last month showed the country's GDP or gross domestic product grew 5.8 per cent in the quarter
That meant India lost its status as the fastest growing major economy to China, which clocked a growth of 6.4 per cent in the three-month
