Reserve Bank of India Governor Shaktikanta Das has cut reverse repo rate by 25 basis points. He is revealing steps to ease liquidity and bank credit; in order to support the economy and enable normal functioning of markets.
As part of the economic relief to balance the fallout of coronavirus lockdown. Earlier, last month, the RBI advanced its Monetary Policy Committee meet and cut the repo rate by a massive 75 basis points, among other emergency steps, to add to the government’s economic relief to mitigate the fallout of the coronavirus and the lockdown.
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