Current Context: Reserve Bank of India’s Governor Shaktikanta Das on 22nd May 2020, addressed the media and announced various key points in order to curb the economic crisis faced by the nation due to pandemic situation of COVID-19.
- RBI has decided to bring down the repo rate by a further 40 basis points that is from 4.4% to 4% reverse repo rate from 3.75% to 3.35% and marginal standing facility (MSF) has been reduced from 4.65% to 4.25%.
- Also, an announcement of extending the moratorium on term loans and working capital was made and it has been extended for a further period of 3 months that is till 31st August 2020.
- RBI has also granted a credit facility of Rs 15,000 crore to SIDBI for 90 days.
- The central bank also extended credit period from 12 months to 15 months.
- Static Part:
- Headquarters of RBI– Mumbai, Maharashtra
- Governor of RBI – Shaktikanta Das
- Deputy Governors of RBI– Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra.
Question:
Q.1 Recently RBI reduced the repo rate from 4.4% to ____% and reverse repo rate from 3.75% to ____%?
a. 4.2%, 3.30%
b. 4.2%, 3.45%
c. 4%, 3.35%
d. 4%, 3.55%
a. 4.2%, 3.30%
b. 4.2%, 3.45%
c. 4%, 3.35%
d. 4%, 3.55%
