Business

RBI cuts key lending rates to 4.40%; maintains accommodative stance

Mumbai, March 27 (IANS) The Reserve Bank of India (RBI) on Friday massively reduced the key lending rates in response to the COVID-19 outbreak.

Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate by 75 basis points to 4.40 per cent from 5.15 per cent.

–IANS

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Source: IANS

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