Friday, 22 May 2020 () Interest rates on loans are set to fall further as the RBI slashed its key policy rates for the second time in two months to counter the economic fallout of the coronavirus outbreak. RBI governor Shaktikanta Das unveiled a 40 basis points cut in the benchmark repurchase rate to 4%. Consequently, the reverse repo rate was also reduced to 3.35 from 3.75%.
RBI slashed its key policy rate for a second time this year. It cut the repo rate by 40 basis points to 4%. The reverse repo rate was also reduced by 40 basis points to 3.35%. RBI also announced a further extension on moratorium on loans by another three months. Watch the full video for more details
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