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    RBI's 4.4% repo rate lowest ever; here's a look at the historical benchmark rates

    RBI's 4.4% repo rate lowest ever; here's a look at the historical benchmark rates

    RBI's 4.4% repo rate lowest ever; here's a look at the historical benchmark rates
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    By Anshul   IST (Updated)

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    In order to help the languishing economy in the wake of coronavirus outbreak, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) slashed repo rate by 75 basis points on Friday.

    In order to help the languishing economy in the wake of coronavirus outbreak, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) slashed repo rate by 75 basis points on Friday. Repo rate - the rate at which the central bank lends short-term funds to the commercial banks - now stands at 4.4 percent. The repo rate has, hence, fallen to the lowest ever. Before this, it had hit the lowest point of 4.74 percent in April 2009.
    Here's a look at the historical trends of benchmark rates:
    06 February, 20205.15%
    05 December, 20205.15%
    04 October, 20195.15%
    07 August, 20195.40%
    06 June, 20195.75%
    04 April, 20196%
    07 February, 20196.25%
    01 August, 20186.50%
    06 June, 20186.25%
    07 February, 20186.00%
    02 August, 20176.00%
    04 October, 20166.25%
    05 April, 20166.50%
    29 September, 20156.75%
    02 June, 20157.25%
    04 March, 20157.50%
    15 January, 20157.75%
    28 January, 20148.00%
    29 October, 20137.75%
    20 September, 20137.50%
    03 May, 20137.25%
    17 March, 20116.75%
    25 January, 20116.50%
    02 November, 20106.25%
    16 September, 20106.00%
    27 July, 20105.75%
    02 July, 20105.50%
    20 April, 20105.25%
    19 March, 20105.00%
    21 April, 20094.75%
    05 March, 20095.00%
    05 January, 20095.50%
    08 December, 20086.50%
    03 November, 20087.50%
    20 October, 20088.00%
    30 July, 20089.00%
    25 June, 20088.50%
    12 June, 20088.00%
    30 March, 20077.75%
    31 January, 20077.50%
    30 October, 20067.25%
    25 July, 20067.00%
    24 January, 20066.50%
    26 October, 20056.25%
    (Source: RBI and BankBazaar)
    The Reserve Bank of India, meanwhile, on Friday also asked all lending institutions to allow three-month moratorium on EMI payments in order to infuse liquidity into the system as the economy grapples with COVID-19 challenges. It has also allowed banks for deferment of interest on working capital loans for the next three months - until June 2020.
    The liquidity measures announced by the RBI will make available a total Rs 3,74,000 crore to the country's financial system.
    For our detailed RBI coverage, click here
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