Thursday, July 7, 2022
  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services
Janam TV English
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
No Result
View All Result
Janam TV English
No Result
View All Result
  • News
  • Business
  • Defence
  • Health
Home News India

RBI declares reduction in repo rate by 75 points to 4.4 per cent

by Janam Web Desk
Mar 27, 2020, 10:46 am IST
in India

Mumbai: Reserve Bank Of India Governor Shaktikanta Das on Friday addressed the media and said that repo and reverse repo rate has been reduced.

“The repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent,” said Das.

The decision comes a day after Union Finance Minister Nirmala Sitharaman announced a special relief package of Rs 1.7 crore.

According to RBI Governor, the “sizeable reduction” the policy repo rate will help to “revive growth and mitigate the impact of COVID-19 and ensure financial security.”

The intensity, spread and duration of the Coronavirus will determine the state of the global economy. The government has taken good measures and we must ensure we do all we can to win this battle against the Coronavirus, the RBI Governor said.

It has been decided to reduce the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3% of Net Demand and Time Liabilities with effect from the fortnight beginning March 28 for a period of 1 year.

MPC (Monetary Policy Committee) noted that global economic activity has come to a near stand-still as #COVID19 related lockdowns & social distancing in affected countries. Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed, stated RBI Governor.

Tags: MAINFEATURED
ShareTweetSendShare

Related News

P T Usha nominated to Rajya Sabha
News

P T Usha nominated to Rajya Sabha

Saji Cheriyan’s shift from “why should I resign” to “I do resign”
News

Saji Cheriyan’s shift from “why should I resign” to “I do resign”

Saji Cheriyan quits on anti constitutional remarks
News

Saji Cheriyan quits on anti constitutional remarks

Latest News

100 per cent first dose coverage to 15-17-year-old in UP

100 per cent first dose coverage to 15-17-year-old in UP

UK PM says he may resign

UK PM says he may resign

Mukhtar Abbas Naqvi resigns from union ministry

Mukhtar Abbas Naqvi resigns from union ministry

Union Agriculture Minister inaugurates the joint conference of ICRIER and NSE through video conference

Union Agriculture Minister inaugurates the joint conference of ICRIER and NSE through video conference

Sri Lanka can escape crisis only by 2023-end: PM

Sri Lanka can escape crisis only by 2023-end: PM

SFs launch search Op in Samba district

SFs launch search Op in Samba district

Modi’s Navnirman lists on BSE SME Platform

Modi’s Navnirman lists on BSE SME Platform

PM pays tributes to Dr. Syama Prasad Mookerjee on his Jayanti

PM pays tributes to Dr. Syama Prasad Mookerjee on his Jayanti

  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services

© Janam Multimedia Limited

No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • ‌
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto

© Janam Multimedia Limited