India’s central bank held its key repo rate at 6.5%. In addition, the bank reduced the CRR by 50 bps to 4% to improve liquidity. The central bank also introduced the Secured Overnight Rupee Rate (SORR) to help develop the interest rate derivatives market and strengthen interest rate benchmarks. The GDP growth forecast for FY 2025 has been revised to 6.6% from the previous estimate of 7.2%, while inflation is now expected to reach 4.8%, higher than the earlier forecast of 4.5%.