Covid-19: RBI slashes reverse repo rate by 25 bps, no change in repo rate
Addressing the media for the second time since the Narendra Modi government imposed a national lockdown on March 25, RBI Governor Shaktikanta Das announced a reduction in reverse repo rate by 25 basis points from 4 per cent earlier to 3.75 per cent now. The reduction in reverse repo rate is one of a slew of announcements made by the RBI governor today. This was his first address since the lockdown was extended till May 3 by the Prime Minister. "The mission is to minimise the epidemiological damage in the country due to coronavirus. I want to convey the RBI's resolve and the way forward," said the RBI governor. Read More