The Reserve Bank of India (RBI) had last reduced the repo rate by 40 basis points to 4 per cent in May 2020 to help the economy tide over the crisis following the outbreak of the Covid pandemic and subsequent lockdown.

Governor Sanjay Malhotra, who succeeded former RBI Governor Shaktikanta Das, will announce the decision in his first policy review today.

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.