The Reserve Bank of India (RBI) cut its repo rate by 40 basis points on May 22. RBI Governor Shaktikanta Das announced the move in view to help the economy revive from the ongoing novel coronavirus crisis. The short-term lending rate now stands at 4 percent. The reverse repo rate was also reduced by 40 bps to 3.35 percent. But what is the repo and reverse repo rate. Here’s all you need to know about it. (Image: Moneycontrol)
