Reserve Bank of India cuts Reverse Repo Rate by 25 points
The Reserve Bank of India Governor Shaktikanta Das on Friday fired. Another round of bazooka by delivering a de-facto policy rate cut by lowering the reverse repo rate due to coronavirus pandemic. Opening a special line of funds to help support non-banking finance companies and microfinance companies. Easing asset classification norms on loan accounts considered for a moratorium. To support the banking system from the impact of coronavirus pandemic. The Reserve Bank of India cut reverse repo rate by 25 basis points to 3.75 percent to discourage banks. From parking excess liquidity under the liquidity adjustment facility window and instead, lend more.
