RBI changes policy stance from "calibrated tightening" to "neutral"

In the final monetary policy review of the current fiscal, the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks to 6.25 per cent. The decision was guided on the basis of an assessment of the evolving macroeconomic situation, the RBI said. The central bank was more accomodating, changing its monetary policy stance from "calibrated tightening" to "neutral".