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RBI Cuts Repo Rate By 40 Basis Points, Sees Negative GDP This Fiscal

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The Reserve Bank Of India (RBI) reduced its repo rate by 40 basis points from 4.4% to 4% and noted that there will be gradual revival of activity and demand by the second half of FY21.

However, he stated that gross domestic product will remain in negative territory this fiscal. In a key announcement, the central bank stated that term loan moratorium has been extended till August 31, making it a six month moratorium in total.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 10:36 IST
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