The Monetary Policy Committee of the Reserve Bank of India on Thursday effected a 25 basis points cut in repo rate in its second bimonthly policy review of this financial year. After the cut, the repo rate now stands at 5.75 per cent. The MPC also changed policy stance to 'accommodative' from 'neutral'. This was third rate cut in a row by the central bank. Repo is the rate at which the central bank lends to commercial lenders.