RBI calls coronavirus COVID-19 threat unprecedented, cuts repo rate by 75 basis points to 4.4.%

Credit: Zee News- Published on March 27, 2020
RBI on Friday (March 27, 2020) cut the Repo Rate by 75 basis points to 4.4 per cent and slashed Reverse Repo Rate by 90 basis points to 4 per cent as part of measures to ease the pain on banks and industries which are suffering from the lock down as he called coronavirus pandemic an ''unprecedented threat andย invisible...

Video credit: HT Digital Content
Published on March 27, 2020 -  02:29
RBI cuts repo rate by 75 bps, allows 3-month moratorium on EMIs
RBI Governor Shaktikanta Das announced the reduction of repo rate amid COVID-19 pandemic. During a press conference in Mumbai, Das said, โ€œThe Monetary Police voted to reduce repo rate by 75 basis points to 4.4 per cent. The reverse repo-rate was reduced by 90 basis points to four per cent.โ€ RBI also permitted banks to allow a three-month moratorium on EMIs of all term loans. The banks include all regional rural banks, cooperative banks and NBFCs. Das also said deferment will not impact the credit history of the borrower. Watch the full video for more details.

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Calling the coronavirus COVID-19 pandemic an ''unprecedented threat and invisible assassin'', the Reserve Bank of India (RBI) on Friday (March 27, 2020) cut the...
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The Reserve Bank of India has cut the Repo Rate by 75 basis points to 4.4 per cent and the Reverse Repo Rate by 90 basis points to 4 per cent.
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