RBI cuts Repo Rate by 0.75 basis points to 4.40%

Bhubaneswar: Reserve Bank of India has cut the Repo Rate (lending rate) by 0.75 basis point basis to 4.40%.

The RBI governor, Shaktikanta Das, addressing media persons on Friday soon after the MPC meeting, said that the Repo Rate has been reduced by 0.75 point basis to 4.40%.

Stating that the RBI is in Mission Mode in view of the COVID-19 pandemic, the Indian federal bank chief said the RBI will ensure that the inflation will be under control.