Reserve Financial institution of India (RBI) Governor Shaktikanta Das introduced a reduce within the repo fee to Four per cent from the present 4.Four per cent, in his first tackle to the media after the federal government unveiled a fiscal and financial stimulus value Rs 20.97 lakh crore to help an already-ailing financial system towards the coronavirus pandemic.
Listed below are RBI’s prime 5 Bulletins
RBI cuts the repo fee by 40 bps to Four per cent.
RBI cuts reverse repo fee by 40 foundation factors to three.35 per cent.
The three-month moratorium prolonged from June 1 to August 31
RBI allocates Rs 15,000 crore to EXIM banks to avail US greenback swap facility. This can have a rollover facility to as much as one 12 months.
RBI affords one other 90-days extension to SIDBI for the 90-day time period mortgage amenities