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<div><div>To mitigate the economic impact of the COVID-19 outbreak, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points.<br></div><div><br></div><div>Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 40 basis points to 4 percent from 4.40 percent.</div><div><br></div><div>Also Read:&nbsp;<a href="https://www.truescoopnews.com/newsdetail/rbi-extends-monotorium-on-term-loan" target="_self">RBI extends moratorium on term loans by 3 more months till August 31</a></div><div><br></div><div>Making the announcement, RBI Governor Shaktikanta Das said the reverse repo rate has been reduced to 3.35 percent from 3.75 percent.</div><div><br></div><div>Das said the central bank would maintain an accommodative stance till growth revives.</div></div><div><br></div>

Making the announcement, RBI Governor Shaktikanta Das said the reverse repo rate has been reduced to 3.35 percent from 3.75 percent

RBI cuts repo rate to  4%; maintains accommodative stance

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