Banks have undertaken to bring returns to be submitted to the Reserve Bank under Automated Data Flow (ADF). A majority of banks have implemented suitable solutions to generate all the returns to be submitted to the Reserve Bank.
We started our policy cut as early as February 2020—before the World Health Organization declared COVID-19 as a pandemic and before the country had its first local virus transmission. Succeeding cuts, to date, resulted in a cumulative reduction of 200 basis points, or from four percent to a record low of two percent.