Finance RBI cuts repo rate by 40 bps to 4%; Extends loan moratorium for 3 more months Updated : May 22, 2020 02:04 PM IST RBI Governor Shaktikanta Das announced that the Monetary Policy Committee (MPC) of the RBI voted with 5:1 to reduce the policy repo rate by 40 bps. The central bank also extended the moratorium on term loans and working capital loans by another 3 months. 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.