Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced the reduction of repo rate considerably to help the country’s financial system tide over the coronavirus disease pandemic.
“The Monetary Police voted to reduce repo rate by 75 basis points - to 4.4 per cent. The reverse repo-rate reduced by 90 basis points to four per cent,” Das said at a press conference in New Delhi.
“It will now be unproductive for the banks to park money ...
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