India tests GDP negative: Now, Reserve Bank nudges economy further3 min read . Updated: 23 May 2020, 12:32 AM IST
RBI governor announces a 40 bps cut in repo and reverse repo rates, while pivoting the regulator’s focus from inflation control to fostering growth
The Reserve Bank of India (RBI) delivered an emergency rate cut for the second time in as many months on Friday as it judged that the coronavirus pandemic poses a grave threat to the country and will lead to the first economic contraction in 40 years.
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