Fixed reverse repo rate reduced from 4% to 3.75%: RBI Governor | Full PC

RBI Governor Shaktikanta Das while holding a press conference said that it has been decided to reduce the fixed reverse repo rate under liquidity adjustment facility (LAF) by 25 basis points from 4% to 3.75%, with immediate effect. "It has been decided to provide special refinance facilities for an amount of Rs 50,000 crores to National Bank for Agriculture & Rural Development, Small Industries Development Bank of India, and National Housing Bank to enable them to meet sectoral credit needs", added RBI Governor