RBI slashes interest rates by 25 basis points on Tuesday

The Reserve Bank of India cut its interest rates matching economists' expectations by 25 basis points for the second time in 2013 on Tuesday, when the repo rate was cut by the central bank from 7.75% to 7.50% and the reverse repo rate from 6.75% to 6.50%. Meanwhile, the RBI maintained its cash reverse ration at 4.00%. The central bank's last interest rates cuts by 0.25% were done in January.