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India’s central bank cuts benchmark rate to decade-low 4.4%

Seattle Times Friday, 27 March 2020 ()
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate by a sizable 75 basis points to 4.4% from 5.15% to ease financing troubles caused by the coronavirus outbreak and help revive the economy. That’s the lowest benchmark rate the Reserve Bank of India has charged on lending to commercial banks, […]
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News video: RBI cuts repo rate by 75 bps, allows 3-month moratorium on EMIs

RBI cuts repo rate by 75 bps, allows 3-month moratorium on EMIs 02:29

RBI Governor Shaktikanta Das announced the reduction of repo rate amid COVID-19 pandemic. During a press conference in Mumbai, Das said, “The Monetary Police voted to reduce repo rate by 75 basis points to 4.4 per cent. The reverse repo-rate was reduced by 90 basis points to four per cent.” RBI...

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