#Corona Effect: RBI Key decision – RBI cuts reporate and BPS Points to 0.75%

NEW DELHI: The Reserve Bank of India (RBI) has taken a number of key decisions in the wake of the coronation drive across the country   The key repo rate was cut by 75 basis points. As well as the 3 month moratorium on all types of loans. Governor Shaktikantha Das held a media briefing on Friday. He said measures were being taken to ensure economic stability and that inflation was under control. If the EMIs are not paid for the next three months, there is no shortage and now there is the possibility of cutting back on loans. The governor assured that this would not affect the borrowers’ sybil score.

Governor Shaktikantha Das said the media had to talk to the media about the inevitable situation like corona virus and lockdown. He said that the Indian banking system is safe and that we are currently facing an extraordinary threat. He said the tough conditions would not last and it was time to take steps to foster economic stability. Crude oil prices in the international market have been good. Markets have been hit by the sale of shares at once. 

He said the leveraged policy decision to be announced in April is ahead. Against this backdrop, the Monetary Policy Committee, which met on March 24, 26 and 27, discussed macroeconomic and microeconomic conditions. Accordingly, the MPC has decided to reduce the repo rate by 75 points. This brought the current repo rate to 4.40 per cent. The reverse repo rate is expected to be 4 per cent with a cut of 90 bps. The RBI, in its wake, has announced an early rate cut.
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