The RBI also pumped %3.74 trillion of additional liquidity into the banking system through various policy measures.
“Given the COVID-19 stress, the six-member monetary policy committee (MPC) advanced their March 31-April 3 meetings to March 24, 26 and 27, and voted 4:2 to cut the policy repo rate to 4.4 per cent,” said Reserve Bank of India Governor Shaktikanta Das, who addressed the media through video streaming.
Its stance was Kept accommodative.
You can read upto 3 premium stories before you subscribe to Magzter GOLD
Log-in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories and 5,000+ magazines
READ THE ENTIRE ISSUE
March 28, 2020