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The Reserve Bank of India (RBI) maintained its key repo rate at 6.5% for the 11th consecutive meeting in December, aligning with market expectations while continuing a neutral policy stance amid a recent slowdown in economic growth. Simultaneously, the central bank cut the Cash Reserve Ratio (CRR) by 50bps to 4%, marking the first such reduction since April 2020, aimed at boosting liquidity, ahead of advance tax outflows. The RBI also introduced the Secured Overnight Rupee Rate (SORR) to further promote the interest rate derivatives market and enhance the credibility of interest rate benchmarks, based on all secured money market transactions. Regarding economic outlook, the GDP is projected to reach 6.6% for FY 2025, down from the prior estimate of 7.2%. Meanwhile, inflation is expected to hit 4.8%, higher than earlier forecasts of 4.5%. Friday's meeting could be the final event for Governor Shaktikanta Das, as his term ends later this month.