India’s Central Bank Cuts Benchmark Rate to Decade-Low 4.4%

New York Times | Mar 27, 2020 at 5:44 AM
  • India’s central bank on Friday cut its key interest rate by a sizable 75 basis points to 4.4% from 5.15% to ease financing troubles caused by the coronavirus outbreak and help revive the economy.
  • The announcement by RBI Governor Shaktikanta Das came a day after India’s finance ministry announced a 1.7 trillion ($22 billion) economic stimulus package.
  • The package included delivering grains and lentil rations for three months to 800 million people, some 60% of the world’s second-most populous country.