In November 2008, the Reserve Bank of India (RBI) lowered its "repo" rate, the rate at which it lends to banks, from 8 percent to 7.5 percent. Only two weeks earlier, it had lowered the rate from 9 percent to 8 percent.
The Economist, 11/6/200
The Reserve Bank of India is lowering its rates to fight

Question

Quizplus · Accepted Answer

Lowering interest rates is a monetary policy tool used to stimulate economic activity during a recession by making borrowing cheaper, encouraging spending and investment.

In November 2008, the Reserve Bank of India (RBI) Lowered