“Reverse repo rate cut by 25 basis points from 4 per cent to 3.75 per cent”, says RBI Governor Shaktikanta Das | TOP POINTS
In his earlier address on March 27, the governor had announced as much as 75 basis points cut in repo rate along with several other measures to inject liquidity into the economic system currently wrestling the COVID-19's impact.
New Delhi: The Reserve Bank of India (RBI) today reduced the reverse repo rate by 25 basis points from four per cent to 3.75 per cent in a bid to inject liquidity in financial markets. However, the repo rate remains unchanged.
This comes amid the COVID-19 pandemic and the subsequent countrywide lockdown. RBI Governor Shaktikanta Das said the liquidity injection has been 3.2 per cent of GDP since February 6 to March 27.
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RBI Governor Press Conference #Live: Shaktikanta Das addresses media https://t.co/Xyrz2Mzy9T
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In his earlier address on March 27, the governor had announced as much as 75 basis points cut in repo rate along with several other measures to inject liquidity into the economic system currently wrestling the COVID-19’s impact.