Highlights: RBI surprises market with 25-basis points repo rate cut

The Reserve Bank of India on Wednesday slashed the repo rate - the interest rate at which it lends to banks - by 25 basis points, from 7.75 per cent to 7.5 per cent effective immediately.

Here are the key highlights:

>> CRR kept unchanged at 4%

>> RBI sees inflation soften through H1FY16 and will be sub-6% in H2

>> RBI seeks to bring inflation to 4% by FY18-end

>> Disinflation is evolving at faster pace than envisaged, says RBI

>> Further monetary policy action to be conditioned by incoming data