The RBI has slashed the REPO RATE to provide a booster to the failing economy in the Corona background, the largest reduction in the REPO RATE to date. RBI expressed confidence in the country's economy. Due to Corona, there has been a crisis on the livelihood of many people, as well as the crisis of unemployment in the country.
To avoid this financial trouble, Finance Minister Nirmala Sitharaman Ji announced the Prime Minister's poor welfare package on Thursday morning. Anticipating the situation, Sarkar has opened the package of the relief package. An amount of 1 lakh 70 thousand crore will be available in this package.
RBI Governor Shashikant Das announced the cut in the REPO RATE on Friday morning. He said that the MPC voted in favor of the cut in the REPO RATE. In order to reduce the need, bring the economic pace back on track, and keep the inflation under control, it has decided to wreak havoc. For this, the REPO RATE is being reduced by 75 basis points and REPO RATE will be reduced from 5.15% to 4.4%. With this, the RBI has reduced the reverse repo rate from 4.9% to 4%.
While Corona has shaken the global market, Governor Shashikant Das ji claims that the impact of Corona will be less than the economic crisis of 2008-09.
He said that home, commercial banks, including Regional Banks, Jhonal Banks, Small Finance Bank, Commercial Banks, All India Financial Institute and Including NBFC have been offered a 3-month EMI. Which neither the NPA will show, nor the credit report.
After this big decision of the government, there was a big jump in the stock market.
To avoid this financial trouble, Finance Minister Nirmala Sitharaman Ji announced the Prime Minister's poor welfare package on Thursday morning. Anticipating the situation, Sarkar has opened the package of the relief package. An amount of 1 lakh 70 thousand crore will be available in this package.
RBI Governor Shashikant Das announced the cut in the REPO RATE on Friday morning. He said that the MPC voted in favor of the cut in the REPO RATE. In order to reduce the need, bring the economic pace back on track, and keep the inflation under control, it has decided to wreak havoc. For this, the REPO RATE is being reduced by 75 basis points and REPO RATE will be reduced from 5.15% to 4.4%. With this, the RBI has reduced the reverse repo rate from 4.9% to 4%.
While Corona has shaken the global market, Governor Shashikant Das ji claims that the impact of Corona will be less than the economic crisis of 2008-09.
He said that home, commercial banks, including Regional Banks, Jhonal Banks, Small Finance Bank, Commercial Banks, All India Financial Institute and Including NBFC have been offered a 3-month EMI. Which neither the NPA will show, nor the credit report.
After this big decision of the government, there was a big jump in the stock market.
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