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- Published: April 17, 2020 09:33
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
— Newsroom Post (@NewsroomPostCom) April 17, 2020
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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.