India's new central bank governor Sanjay Malhotra cut interest rates by 25 basis points to 6.25%, aiming to support a slowing economy. The monetary policy committee's decision disappointed some investors seeking more proactive measures.

Reserve Bank of India’s (RBI) new governor Sanjay Malhotra on Friday said that India can achieve a 7 per cent plus growth rate and the country should aspire for it.

The latest decision brings the repo rate from 6.50 per cent to 6.25 per cent. Sanjay Malhotra, the newly appointed RBI Governor, chaired his first Monetary Policy Committee (MPC)

The newly-appointed governor of the RBI, Sanjay Malhotra, with a mostly new Monetary Policy Committee (MPC) to boot, has kicked off his career by making a sharp break with his predecessor Shaktikanta Das who retired in December last year after helming the central bank for six years.