Reserve Bank of India (RBI) Governor Shaktikanta Das is holding a press conference. During this, Governor Shaktikanta Das said that due to the corona virus, the global economy had a big impact.
He said that the MPC policy has agreed to cut the repo rate by 0.40 percent.
In March, RBI announced several positive measures for the borrowers, lenders, the central bank will take further necessary steps for the coming circumstances.
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Since the monetary policy meeting of February this year, the RBI has injected funds equivalent to 3.2 per cent of GDP into the economy to ease liquidity conditions.
GDP growth will remain negative. There will be no change in reverse repo rate. The service sector of the country has come under pressure.
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