Business Here is the full text of RBI's MPC's resolution Updated : May 22, 2020 12:43 PM IST The central bank cut the repo rate by 40 basis points to 4 percent. The reverse repo rate was also reduced by 40 basis points to 3.35%. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.