Corona Crisis: RBI Cuts Reverse Repo Rate From 4 to 3.75%

New Delhi: The Reserve Bank of India (RBI) has again made several major announcements on Friday to revive the economy from the Corona crisis. RBI Governor Shaktikanta Das said that the central bank's mission is to prevent the deteriorating economy from accelerating due to corona.

It has been decided to reduce the fixed reverse repo rate under liquidity adjustment facility (LAF) by 25 basis points from 4% to 3.75%, with immediate effect, He also clarified.

https://youtu.be/HRTjao84K6s

Today, RBI Governor Shaktikanta Das addressed the media and said that for 2020-21, International Monetary Fund projects sizable reshaped recoveries, close to 9 percentage points for the global GDP. India is expected to post a sharp turnaround & resume its pre-covid, pre-slowdown trajectory by growing at 7.4% in 2020-21.

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Since March 27, the macroeconomic and financial landscape has deteriorated precipitously in some areas, but light still shines through bravely in some others: RBI Governor

He said that today humanity is facing the trial of its time, as COVID19 grips the world with its deadly embrace. In this kind of environment Reserve Bank of India (RBI) has been very proactive & monitoring the situation closely.

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