RBI reduces repo rates by 75 bps to 4.4%

Credit: Hindu- Published on March 27, 2020
In view of the COVID-19 pandemic, the Reserve Bank of India has reduced the repo rate by 75 bps to 4.4% on Friday.The central bank advanced its moneta

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.

You are here

Related videos from verified sources

Coronavirus | Sars-Cov-2 image; NEET postponed; RBI cuts repo rate: Top 10 updates 04:19
Credit: HT Digital Content - Published on March 28, 2020 


RBI cuts repo rate by 75 bps to 4.4% amid 'unprecedented times' | Oneindia News 03:07
Credit: Oneindia - Published on March 27, 2020 


Related news from verified sources

The Reserve Bank of India (RBI) slashed interest rates on Friday, following other central banks, in an emergency move to counter economic fallout from a...
on March 27, 2020 • Reuters India

The Reserve Bank of India (RBI) slashed interest rates on Friday, following other central banks, in an emergency move to counter the economic fallout from a...
on March 27, 2020 • Reuters India

You might like