New Delhi: The Reserve Bank of India on Friday slashed the repo rate by 40 basis points to 4 per cent and in a bid to boost liquidity in the economy.
Due to this, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das.
Repo rate is the rate at which a country’s central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
