LTV for gold loans below ₹2.5 lakh to be revised to 85% from 75%: Governor

RBI MPC meeting LIVE Updates: RBI Governor Sanjay Malhotra in his address said the monetary committee has changed its stance to ‘neutral’ from accomodative.RBI MPC meeting LIVE Updates: The Reserve Bank of India (RBI) lowered repo rates by 25 basis points (bps), inflation estimate by 30 basis points, and the cash reserve ratio by 100 basis points at its Monetary Policy Committee (MPC) meeting today (June 6).The CRR cut alone is estimated to release ₹2.5 lakh crore into the financial system. This is way more than the market had estimated and the cheer was palpable. Nifty Bank spiked more than 500 points from the day’s low immediately after Governor Sanjay Malhotra made the announcement.A CNBC-TV18 poll had estimated a 25 basis points rate cut. The poll indicated that low inflation and slower-than-expected growth are key reasons behind the anticipated move. Inflation has stayed below the RBI’s 4% target, and first-quarter gross domestic product (GDP) growth is expected to miss earlier forecasts.Catch all LIVE updates on RBI MPC meet today:

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