COVID FightBack: RBI reduces repo & reverse repo rates

Cash reserve ratio (CRR) is reduced by 100 basis points for a period of 1 year from the fortnight beginning March 28, 2020. Daily CRR balance requirement reduced to 80 per cent from 90 per cent till June 26, 2020 beginning from March 28, 2020, Das said in a press conference today.

Outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. Apart from resilience of agricultural and allied activities, most sectors would see adverse impact, according to Das.

Fibre2Fashion News Desk (RKS)