RBI’s Covid-19 relief: Repo rate cut, focus on reviving growth

Hindustan Times | Mar 27, 2020 at 4:56 AM
  • Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced the reduction of repo rate considerably to help the country’s financial system tide over the coronavirus disease pandemic.
  • This comes a day after a relief package announced by the government to clear the economic mess due to coronavirus pandemic.
  • Finance Minister Nirmala Sitharaman on Thursday announced a Rs 1,70,000 crore package under a new scheme, the Pradhan Mantri Gareeb Kalyan Yojana (PMGKBY), to address the immediate economic distress in the wake of the lockdown prompted by the coronavirus disease (Covid-19) pandemic, and ensure food and cash reaches the marginalised segments of society.