RBI cuts repo rate by 40 bps to 4%, reverse repo rate at 3.35%
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RBI Governor Shaktikanta Das on Friday announced a reduction in repo rate by 40 basis points from 4.4 % to 4% while reverse repo rate stands reduced to 3.35%. Addressing a presser amid lockdown due to COVID-19 pandemic situation, Shaktikanta Das said that there is recession like situation in the world due to the outbreak of coronavirus that has impacted businesses worldwide.
RBI Governor Shaktikanta Das on Friday announced a reduction in repo rate by 40 basis points from 4.4 % to 4% while reverse repo rate stands reduced to 3.35%. Addressing a presser amid lockdown due to COVID-19 pandemic situation, Shaktikanta Das said that there is recession like situation in the world due to the outbreak of coronavirus that has impacted businesses worldwide.
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