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of <h1>RBI Slashes Key Interest Rate by 50 Basis Points to Stimulate Economic Recovery and Boost Market Sentiment</h1> The Reserve Bank of India (RBI) cut repo rate by 50 basis points to 5.5%, the lowest in three years, aiming to boost economic growth. The stock market responded positively, with Sensex jumping 591.94 points and Nifty climbing 205.2 points. Interest-sensitive sectors like realty, auto, and banking saw significant gains. The RBI maintained GDP forecast at 6.5% and lowered inflation projection to 3.7%, supported by expected good monsoon conditions.
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