<h1>Policy repo rate cut and accommodative monetary stance to support credit flow and mitigate pandemic-induced economic stress.</h1> The Reserve Bank announced a sizeable policy repo rate reduction and maintained an accommodative stance to revive growth and preserve financial stability, alongside an asymmetric LAF corridor to discourage parking of funds. A multi pronged liquidity package-targeted long term repo operations for investment grade corporate instruments, CRR reduction and relaxed CRR maintenance, increased MSF accommodation and widened policy corridor-was calibrated to inject system and targeted liquidity. Supervisory relief includes a three month moratorium on term loan instalments and deferment of working capital interest without asset classification downgrade, deferral of NSFR implementation and the last tranche of the capital conservation buffer, and measures to improve market functioning including limited offshore NDF participation by IFSC banking units.