To tackle the impact of novel coronavirus (Covid-19) disease on the Indian economy, the Reserve Bank of India (RBI) cut its repo rate by 75 basis points (bps) to 4.4 per cent on Friday.
The reverse repo rate stands reduced by 90 bps to 4 per cent. RBI announced four measures to help the Indian economy – measures to expand the liquidity in the market, steps to reinforce monetary transmission, ease financial stress by relaxing repaying pressures, improve functioning of markets in view of high volatility experienced.
