RBI has undertaken total rate cut of 250 basis points from Feb 2019: Governor Das

Jul 11, 2020

New Delhi, July 11 (ANI): Reserve Bank of India (RBI) Governor, Shaktikanta Das on July 11 talked about the measures taken in the view of COVID-19 pandemic at 7th SBI Banking and Economics Conclave. “From February 2019 onwards, on cumulative basis, we had cut the Repo rate by 135 basis points till the onset of COVID-19. That was done mainly to tackle the slowdown in growth which was visible at that time and we had elaborately touched upon it in our Monetary Policy Committee (MPC) Resolutions,” said RBI Governor. “The MPC has decided, as you would be aware, to cumulatively, cut the policy repo rate by 115 basis points. So from February 2019 the total rate cut that RBI has undertaken is 250 basis points,” RBI Governor added.