RBI cuts the repo rate by 40 bps to 4 per cent an reverse repo rate to 3.35 per cent.
Reserve Bank of India (RBI) Governor Shaktikanta Das announced a cut in the repo rate to 4 per cent from the existing 4.4 per cent, in his first address to the media after the government unveiled a fiscal and monetary stimulus worth Rs 20.97 lakh crore to support an already-ailing economy against the coronavirus pandemic.
Here are RBI’s top 5 Announcements
RBI cuts the repo rate by 40 bps to 4 per cent.
RBI cuts reverse repo rate by 40 basis points to 3.35 per cent.
The three-month moratorium extended from June 1 to August 31
RBI allocates Rs 15,000 crore to EXIM banks to avail US dollar swap facility. This will have a rollover facility to up to one year.
RBI offers another 90-days extension to SIDBI for the 90-day term loan facilities