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                                                    CHEER FOR RETAIL BORROWERS














RBI Cuts Rate by 25 bps 













Turns  Accommodative 


                                                                                                    this fiscal year s growth and inflation projec- 

                                                                                                    tions by 20 basis points to 6 5 °  and 4   respecti- 
Snips fiscal s growth outlook                       Central Bank Speak
                                                                                                    vely  following the 26  tariffs - effective from 
                                                               RAW FORECAST 00                      Wednesday - on Indian exports to the US 
citing events snowballing                                              As per            Asp er-1     One basis point is a hundredth of a percentage 
                                                             InflationFeb policyGrowth Feb policy
                                                                                                    point 
around US tariffs as a worry                      „ifY26       4 0       4 2     6 5       6 7
                                                                                                       The downward revision   in growth  essenti- 

                                                       Q1      3 6       4 5     6 5       6 7      ally reflects the impact of global trade and poli- 
                  Our Bureau                                                                        cy uncertainties   RBI Governor Sanjay Mal- 
                                                       Q2      3 9       4 0     6 7        7
                                                                                                    hotra said  announcing the second successive 
Mtunbai  The Reserve Bank of India  RBI                Q3      3 8       3 8     6 6       6 5      rate cut after taking charge last December  Mal- 

Wednesday lowered policy rates by a quarter            Q4      4 4       4 2     6 3       6 5      hotra said inflation is giving  comfort and con- 

percentage point for the second time in as many                                                     fidence   but growth is lower than  what we 

months  surprised the markets with a stance         The central bank s rate-setting committee       aspire for   adding that tariffs  dampens 

switch to  accommodative  from  neutral  to sig-  unanimously voted to lower the policy rate to     growth   Hinting that tariffs will impact 

nal an easing bias  and marginally reduced the    6   in line with market expectations  paving      growth more than inflation  the Governor said  

FY26 economic expansion forecast on concerns      the way for lenders to immediately reduce end-     Alhile global trade and policy uncertainties 

that tariffs-triggered global challenges could    user borrowing costs for home and car purcha-     shall impede growth  its impact on domestic in- 

have a disproportionately adverse impact on       ses   retail loans typically pegged to the exter- flation  requiring us to be vigilant  is not expec- 

growth than on prices                             nal benchmark   Simultaneously  RBI lowered       ted to be of  major  concern
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