Reserve Bank of India (RBI) governor Shaktikanta Das today announced a series of measures massive to counter the economic slowdown caused by the novel coronavirus pandemic.
This comes a day after finance minister Nirmala Sitharaman released a ₹1.7 lakh crore package to help the poor and needy tackle problems owing to 21-day lockdown across the country.
Taking to Twitter, Prime Minister Narendra Modi said RBI had taken giant steps to safeguard the economy from the impact of the coronavirus. Here are the key takeaways from RBI governor's address: 1) Repo rate and reverse repo rate have been cut by 74 bps and 90 bps respectively. "The repo rate has been reduced by 75 basis points to 4.4 per cent.
Read more on livemint.com