RBI cuts repo rate cut by 75 bps to 4.4%, CRR by 100 bps to 3%: Full statement
Calling the coronavirus COVID-19 pandemic an ''unprecedented threat and invisible assassin'', the Reserve Bank of India (RBI) on Friday (March 27, 2020) cut the Repo Rate by 75 basis points to 4.4 per cent and slashed Reverse Repo Rate by 90 basis points to 4 per cent as part of measures to ease the pain on banks and industries which are suffering from the 21-day lockdown.
Mar 27, 2020, 12:11 PM IST
Bank of Baroda cuts savings rate by 0.50%
Kotak Mahindra Bank has also joined the league and slashed its interest on savings account deposits by 0.50 percent to 5.5 percent on balance between Rs 1 crore and Rs 5 crore.
Aug 04, 2017, 20:53 PM IST
