India’s central bank slashes rates and eases loan repayments to battle Covid-19

India’s central bank slashes rates and eases loan repayments to battle Covid-19

India’s central bank has joined the global fight against the severe economic fallout of the Covid-19 pandemic. To safeguard the country’s economy, Reserve Bank of India (RBI) governor Shaktikanta Das today (March 27) deployed conventional tools such as interest rate cuts and unconventional ones such as putting loan repayments on hold. The rate cuts are the biggest since the 2008 global economic crisis.