The Reserve Bank of India ((RBI)) cut its benchmark money rate for the second straight meeting. Reducing its repo rate by 25 bps, down to 6%, the central bank once gripped by political turmoil has certainly shifted gears. Former Governor Urjit Patel was essentially removed (he resigned) in December after feuding with the federal government over his perceived hawkish stance.
Shaktikanta Das, a career bureaucrat with lengthy connections to Prime Minister Modi's government, was appointed as the new leader for RBI to replace Mr. Patel. Das has brought with him a new policy framework for