<h1>Economic Survey 2020-21: Repo Rate Cut by 115 Basis Points to Ease COVID-19 Impact; Banks' Asset Quality Improves.</h1> The Economic Survey 2020-21 highlights a 115 basis point reduction in the repo rate since March 2020, with significant cuts in March and May 2020, aimed at easing monetary policy during the COVID-19 pandemic. This led to improved transmission of policy rates to deposit and lending rates. The gross non-performing asset ratio of scheduled commercial banks fell from 8.21% in March 2020 to 7.49% in September 2020, while the capital to risk-weighted asset ratio increased. Despite these improvements, credit growth remained subdued. The Nifty 50 and S&P BSE Sensex reached record highs in January 2021.