Experts say that more needs to be done after Shaktikanta Das's briefing on Friday, and that special dispensation is needed for restructuring loans to worst-hit sectors
RBI governor Shaktikanta Das; Image: PUNIT PARANJPE/AFP via Getty Images
The Reserve Bank of India (RBI) on Friday, through an off-cycle monetary policy meeting, announced it is cutting interest rates further by 40 basis points, bringing the repo rate down to 4.0 percent and the reverse repo rate to 3.35 percent. The central bank also extended the moratorium on payment of instalments on loans—which was announced in March—for a further three months, to August 31.