- The Reserve Bank of India (RBI) on Friday freed up more capital for banks to lend, announced a fresh ? 50,000 crore targeted long-term repo operation.
- RBI slashed the reverse repo rate by 25 bps to 3.75 per cent, making it less attractive for commercial banks to park cash with the central bank.
- Earlier on March 27, RBI had slashed the repo rate by 75 basis points to 4.40 per cent from 5.15 per cent to help the economy fight the Covid-19 pandemic.