NEW DELHI -- The Reserve Bank of India on Friday provided fresh liquidity to the economy by cutting reverse repo rates by 25 basis points, to 3.75%, and announcing an infusion of one trillion rupees ($13 billion) to help shadow banks and micro finance companies, as well as to boost credit to farmers, small businesses and the housing sector amid the coronavirus crisis.
Economy
India's central bank cuts deposit rates to ease coronavirus impact
$13bn rupees injected to help shadow banks, agriculture and small businesses
The Reserve Bank of India announces one trillion-rupee infusion into the country's financial system as the coronavirus pandemic continues to shake the nation of 1.3 billion people. © Reuters
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