RBI reduces reverse repo rate by 25 bps to 3.75%, Rs 50,000 crore boost to industries
Shortpedia
Content Team
The Reserve Bank of India Friday reduced the reverse repo rate by 25 basis points, from 4 per cent to 3.75 per cent to encourage banks to invest, amid the outbreak of novel coronavirus. However, the policy rate remains unchanged. RBI governor Shaktikanta Das announced Rs 50,000 crore booster package for small and medium-sized industries to recover from the lockdown. The number of COVID-19 cases in India rose to 13,387 Friday.
