The RBI on Friday cut the repo rate by 40 basis points to 4% and maintained accommodative stance. The Central Bank had earlier cut the repo rate by 75 basis points. It has also slashed the reverse repo rate to 3.35%.

In view of the extension of lockdown, the provisions for moratorium on term loan repayments are also being extended by another three months. The total moratorium would be of six months now, till August 31, 2020.

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