Lockdown 4: MPC cuts repo rate by 40 bps to 4%, says RBI Governor

The Monetary Policy Committee (MPC) Friday unanimously decided to slash the repo rate by another 40 basis points from 4.4 per cent to 4 per cent, Reserve Bank of India (RBI) Governor Shaktikanta Das said. The decision was taken to revive growth and mitigate the impact of the coronavirus pandemic. The announcement came following a three-day off-cycle meeting of the MPC, held between May 20 and 22 #RBI #Coronavirus #ShaktikantaDas