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RBI reduces reverse repo, announces measures to boost liquidity

The Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank would ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate, the rate at which banks park their fund with the central bank, by 25 basis points to 3.75 per cent. This would encourage banks to lend to the productive sectors of the economy. With regard to other measures, Das said RBI will begin with giving an additional Rs 50,000 crore through targeted long-term repo operation (TLTRO) to be undertaken in tranches. He announced a re-financing window of Rs 50,000 crore for financial institutions like Nabard, National Housing Bank and Sidbi. Watch the video for more.