RBI MPC Meet Key Takeaways

The Monetary Policy Committee has cut the repo rate by 25 bps to 5.75%, all the members voted in favour of a rate cut
The RBI has changed its policy stance to accommodative from neutral
The central bank cuts its FY20 GDP growth forecast to 7% from 7.2%
It raised its H1 FY20 consumer inflation estimate to 3-3.1% from 2.9-3%
The transaction charge for RTGS, NEFT systems will be scrapped
The repo rate is at its lowest level since July 2010
Draft for “on-tap” licensing of small finance banks will be issued by August-end