MONETARY POLICY STATEMENT

March 28, 2020

The Reserve Bank of India (RBI) announced cut in repo rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. This cut in the repo rate is the lowest in at least 15 years.

Rate cut:

RBI has also slashed the reverse repo rate by 90 basis points to 4 per cent.
The central bank has also reduced the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year providing total liquidity injection of 3.74 lakh crore rupees to the system in current scenario.

Source : Indian Express

Latest Current Affairs

See All

What is Advanced Composite Solar Sail System (ACS3)?

NASA successfully launched its Advanc...

April 26, 2024 Science & Tech

National Institute for the Empowerment of Persons with Intellectual Disabilities (NIEPID)

The Union Government is expected to r...

April 26, 2024 Polity & Governance

What is a Payment Aggregator (PA)?

The Reserve Bank of India (RBI) has f...

April 26, 2024 Economy

What is Nephrotic Syndrome?

Researchers from Kerala have reported...

April 26, 2024 Health

Indian National Centre for Ocean Information Services (INCOIS)

Due to its vast economic benefits, it...

April 26, 2024 Geography

ASEAN Future Forum

Recently, India’s External Affairs Mi...

April 26, 2024 International Relations

What is Auto-Brewery Syndrome?

A drunk driving case against a 40-yea...

April 26, 2024 Health

What are antihistamines?

Antihistamines are common drugs that ...

April 26, 2024 Health

What is a Magnetar?

Scientists have now detected the most...

April 26, 2024 Science & Tech

What is Phi-3-mini?

Recently, Microsoft unveiled the late...

April 26, 2024 Science & Tech