Mumbai, Apr 9 (PTI) Following are the highlights of the first bi-monthly credit policy of 2025-26 fiscal announced by Reserve Bank Governor Sanjay Malhotra after the 54th meeting of Monetary Policy Committee (MPC) on Wednesday: * Key interest rate (repo) reduced by 25 basis points to 6 pc, lowering it for the second time in a row * Six-member MPC unanimously votes to reduce repo rate * Monetary stance changed to accommodative, meaning MPC to consider only two options -- status quo or a rate cut * GDP growth forecast for FY26 lowered to 6.5 pc from 6.7 * Indian economy has made steady progress towards goals of price stability, sustained growth * RBI says trade tariff related measures have exacerbated uncertainties clouding the economic outlook across regions * Inflation projected at 4 pc in FY26, lower from earlier estimate of 4.2 * RBI permits NPCI to raise UPI transaction limit for person-to-merchant payments * RBI proposes to review guidelines for lending against gold jewellery * Central bank proposes to expand scope for co-lending and issue generic regulatory framework * Minutes of 54th MPC meeting to be published on April 23 * Next meeting of MPC is scheduled from June 4 to 6, 2025. PTI NKD CS HVA

Interest rate cut signals accommodative monetary stance, permitting payments rule changes and proposals to ease lending regulations. The Reserve Bank cut the policy rate while shifting to an accommodative stance, with the MPC voting unanimously; it lowered GDP and inflation projections. Regulatory measures include permitting higher person-to-merchant payment limits, proposing a review of lending-against-gold guidelines, and proposing expansion of co-lending with a generic regulatory framework; MPC minutes publication and next meeting timing were also announced.