Reserve Bank of India announces credit policy on 9th October 2020

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About the policy of Reserve Bank of India

Reserve Bank of India announces a credit policy on 9th October. the repo rate has not been changed and has been maintained at 4 percent. The reverse repo rate has also been maintained at 3 integers 35%.

Reserve bank has decided to keep its policy flexible credit policy in the 2020 and 2021 financial years as well. “The economy is showing signs of recovery and the RBI is ready to take concrete steps to boost growth,” said Shaktikant Das, the bank’s governor. An important announcement was made by Das today that the RTGS service system for transfer of funds is proposed to be operational 24 hours a day from December this year.

Reference Used : News On Air