This marked the first rate reduction from the central bank in almost five years and this decision will translate into reduced borrowing costs and potentially help homemakers, experts explained.

The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI), under the leadership of new Governor Sanjay Malhotra, announced a 25 basis point reduction in the repo rate for the first time in five years,

The Indian economy, though continuing to remain strong and resilient, also did not remain immune to these global headwinds, with the Indian Rupee coming under depreciation pressure in the recent months.