The RBI has allowed banks to provide a 3-month moratorium on loans and EMI repayments. It has also slashed key repo rate by 75 basis points to 4.4 per cent in order to revive growth as India battles Covid-19.
RBI governor Shaktikanta Das on Friday announced that its Monetary Policy Committee (MPC) decided to advanced its meeting in view of the Covid-19 crisis and voted for a massive reduction in repo rate in order to mitigate economic risks.
It may be noted that the MPC meeting, which was earlier scheduled for March 31-April 3, was advanced to March 25-27 ...
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