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  News   Business  22 May 2020  RBI's biggest decision regarding EMI, 40 basis point cut in Repo Rate

RBI's biggest decision regarding EMI, 40 basis point cut in Repo Rate

ROZANA SPOKESMAN
Published May 22, 2020, 12:58 pm IST
Updated May 22, 2020, 12:58 pm IST
Efforts are being made to overcome the economic crisis caused by Corona. The Reserve Bank of India (RBI) on Friday announced a 40 basis
Shaktikanta Das
 Shaktikanta Das

New Delhi: Efforts are being made to overcome the economic crisis caused by Corona. The Reserve Bank of India (RBI) on Friday announced a 40 basis point cut in the repo rate. The repo rate has now been reduced from 4.40 per cent to 4 per cent.

RBI policyRBIHowever, no change has been made in the reverse repo rate. In a press conference on Friday, RBI Governor Shaktikanta Das said that the MPC has announced a 0.40 per cent cut in the repo rate. Now the repo rate has been raised to 4 percent.

This can have an effect on EMI, your EMI may decrease. RBI Governor Shaktikant Das on Friday said industrial production in six major states has come to a standstill due to the corona crisis and Lockdown.

RBI, govt trying to reach common ground on some key issuesRBI Consumption of electricity and petroleum has declined. Cement production fell 19 per cent in March. The country has seen a sharp decline in investment.

RBI Governor Shaktikanta Das said the corona has caused huge damage to the economy. A number of measures are being taken to get the economy back on track. Inflation is expected to remain under control. The monsoon is expected to remain normal.

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