RBI cuts key rates to 4.40%, maintains accommodative stance

The Reserve Bank of India (RBI) on Friday massively reduced the key lending rates in response to the Covid-19 outbreak.

Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate, the key interest rate at which the RBI lends short term funds to commercial banks, by 75 basis points to 4.40 per cent from 5.15 per cent.

Consequently, the reverse repo rate was also reduced by 90 basis points to 4 per cent.

Read More: https://www.bhaskarlive.in/rbi-cuts-key-rates-to-4-40-maintains-accommodative-stance-3rd-ld/