MUMBAI :
To check the economic slowdown in the wake of COVID-19, the RBI on Friday, cut key rates as Repo rate by 75 basis points and reverse Repo of 100 basis points.
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Now repo rate would be 4.4 per cent and Reverse Repo would be 4.15 per cent. RBI Governor Shakti Kanta Das also announced a moratorium of three months of EMI on all outstanding loans.
The Governor predicted a big recession coming for the world and he warned that India won’t be immune. It all depends on how India responds to the situation, he added.
