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RBI reduces repo rate by 75 basis points to 4.4 per cent; reverse repo-rate reduced by 90 basis points to 4 pc

RBI Governor Shaktikanta Das on Friday in a statement announced a reduction in the repo rate by 75 basis points to 4.4 per cent while reverse repo rate is reduced by 90 basis points to 4%. The decisions were made during the RBI advances monetary policy committee meeting held between Mar 25-27 as country goes through tough times amid coronavirus lockdown affecting businesses and economy at large scale. Das said that the Monetary Policy Committee voted 4:2 majority to cut 75 basis points to 4.4 per cent.

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