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RBI's surprise rate cut, shift in focus to growth, loan moratorium and more
MUMBAI: The coronavirus pandemic has forced the Reserve Bank of India (RBI) to advance its scheduled monetary policy meet a second time and announce deep cuts to benchmark rates. RBI governor Shaktikanta Das, in a televised address on Friday, announced a 40 basis points (bps) cut in repo and reverse rates, markedly pivoting the RBI's focus from inflation control to fostering growth impulses.