The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) slashed the repo rate today. RBI Governor Sanjay Malhotra said that the decision has been taken unanimously. This means that the current repo rate now is 6.25%. Global economic backdrop remains challenging, says Malhotra. He also says that "progress in global disinflation is stalling." On the stance, Malhotra said, "neutral stance will provide MPC flexibility to respond to evolving macroeconomic environment." Check RBI MPC live updates.