RBI cuts reverse repo rate by 25 bps to 3.75%: Key points

RBI governor Shaktikanta Das addressed the media amid the ongoing coronavirus crisis. Under liquidity adjustment facility (LAF), reverse repo rate (rate at which RBI borrows funds from banks) reduced by 25 basis points to 3.75%; repo rate unchanged (4.40%) as the decision is taken by the Monetary Policy Committee, Das announced.

Yes Bank crisis: Solution in place before 30 days, says RBI governor

BI governor Shaktikanta Das has indicated that investors would not have to wait for 30 days for the moratorium on Yes Bank to be lifted and a resolution was likely much earlier. “You will see very swift action on the part of the RBI to put in place a scheme to revive the bank,” said Das, speaking to reporters on the sidelines of Assocham’s annual banking summit.