Mumbai : In a decisive and confidence-laden move that aligns squarely with Prime Minister Narendra Modi’s “development-first” economic doctrine, the Reserve Bank of India on Friday delivered a 25-basis-point policy rate cut—its fourth since February—despite a weakening rupee, global trade turbulence and nagging export softness.

The reduction, which brings the repo rate down from 5.50% to 5.25%, startled sections of the financial markets but underscored the central bank’s conviction that India’s macroeconomic base is strong enough to support a fresh burst of growth momentum. The Monetary Policy Committee voted unanimously for the cut, a rare display of cohesion in a period marked by global volatility. Read Also 'Gold Prices Likely To Remain Firm In The Coming Week, Driven By Investor F

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