In cutting interest rates and giving a boost to the government's efforts to revive growth, RBI governor Raghuram Rajan displayed the pragmatism and flexibility familiar to those who work with him.
RBI awaits fiscal stance, inflation to cool off to decide on rates.
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
RBI's surprise rate cut has revived sentiments of India Inc.
Experts hail Budget 2015 as a progressive, growth oriented one.