Social News XYZ     

RBI cuts key lending rates to 4.40%; maintains accommodative stance

RBI cuts key lending rates to 4.40%; maintains accommodative stance

Mumbai, March 27 (SocialNews.XYZ) The Reserve Bank of India (RBI) on Friday massively reduced the key lending rates in response to the COVID-19 outbreak.

Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 75 basis points to 4.40 per cent from 5.15 per cent.

 

Consequently, the reverse repo rate was also reduced by 90 basis points to 4 per cent.

Furthermore, the MPC voted to maintain accommodative stance, thus opening up possibilities for more future rate cuts.

Source: IANS

Facebook Comments
RBI cuts key lending rates to 4.40%; maintains accommodative stance

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at gopi@socialnews.xyz

Advertisements
PHP Code Snippets Powered By : XYZScripts.com
%d bloggers like this: