Governor, Sanjay Malhotra, on Friday said that India can definitely clock a growth rate of more than 7 per cent. Speaking at the post-MPC press conference, the governor said that India should aspire to achieve the 7-plus growth rate.

Reserve Bank of India’s (RBI) new governor Sanjay Malhotra on Friday said that India can achieve a 7 per cent plus growth rate and the country should aspire for it.

The Reserve Bank of India (RBI) cut its key interest rate for the first time in nearly five years on February 7. The Monetary Policy Committee (MPC), which consists of three RBI and three external members, cut the repo rate by 25 basis points to 6.25% after having kept it unchanged for eleven straight policy meetings.

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

The Reserve Bank of India (RBI) cut its key repo rate for the first time in nearly five years on Friday to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.

In a pivotal move to bolster India's economic growth, the Reserve Bank of India (RBI) has slashed the repo rate for the first time in nearly five years, with Governor Sanjay Malhotra cautioning against global financial turbulence.

The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy. The Monetary Policy Committee decided to trim the repo rate by 25 basis points to 6.