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In a sequel to covid-19 measures, RBI brings in nuance with a promise of more

India city Mumbai covid-19 economy Government
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MUMBAI: The lockdown to curb the spread of covid-19 has meant that policymakers are doubling up on their efforts to keep the economy safe.

In that, the Reserve Bank of India (RBI) has rolled up its sleeves and on Friday announced a sequel to its earlier measures.

From banks to non-bank lenders and even state governments, the central bank had something for everyone. The measure that carried some punch was the cut in reverse repo rate by 25 basis points to 3.75%, a bid to discourage banks from parking their funds with the RBI.

As this column had pointed out on 16 April, banks have been parking record amount at the central bank’s reverse repo operations instead of lending to companies or investing in bonds.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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