 "Union railways and commerce minister Piyush Goyal")
Union Minister Piyush Goyal on Friday welcomed the Reserve Bank of India's (RBI) move to cut repo rate and reducing the reverse repo rate saying that it will boost demand amid COVID-19 by extending affordable credit to MSMEs and other businesses.
Earlier today, the RBI slashed the repo rate by 40 basis points to 4 per cent and extended the loan repayment moratorium for another three months up to August 31. The reverse repo rate stands at 3.35 per cent.
"Welcome @RBI's move to cut Repo Rate by 40 basis points from 4.4 % to 4% and reducing Reverse Repo Rate to
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