RBI follows ECB with crisis-fighting TLTROs
The Reserve Bank of India has adopted crisis-fighting liquidity measures pioneered by the European Central Bank as it seeks to dampen the effects of the coronavirus on the economy.
The RBI brought forward its scheduled monetary policy decision by several days to today (March 27). Policy-makers slashed the policy rate by 75 basis points to 4.4%, and unveiled targeted long-term repo operations (TLTROs) as part of a raft of economic support measures.
TLTROs provide banks with long-term liquidity
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