Putting an end to all speculations, the Reserve Bank of India (RBI) on August 7, 2019, in its third bi-monthly monetary policy meeting for FY20 has slashed the repo rate by 35 basis points (bps). And with this fourth rate cut in a row, the repo rate has come down to 5.40%. This is not a common occurrence. In the last 20 years, only twice has the repo rate gone down below 6%. So far, the RBI in four consecutive rate cuts has slashed the repo rate by 110 bps.