Coronavirus pandemic | RBI cuts repo rate by 75 bps to 4.40%, advances MPC meet to March 24-27

Money Control | Mar 27, 2020 at 6:51 AM
  • In the wake of the coronavirus pandemic, the Reserve Bank of India (RBI) on March 27 cut the repo rate by 75 basis points to 4.40 percent versus 5.15% earlier.
  • On October 4, the RBI cut its key lending rate by 25 basis points to 5.15 percent and triggered hopes for cheaper loans during the festival season.
  • All six members of the Monetary Policy Committee (MPC) voted in favour of the pause, leaving the repo rate unchanged at 5.15 percent.