Reserve Bank of India

Reserve Bank of India’s Governor Shaktikanta Das holds a press conference with regard to the Economic Situation.

  • Economic Situation is being monitored closely.
  • Macro Economic landscape deteriorating
  • Global Financial Markets remain volatile
  • Crude oil prices remain
  • India set to post sharp economic turnaround
  • 7.4% economic growth expected in F.Y 2020-2021
  • Manufacturing index lowest in last 4 months
  • Surplus liquidity in banks
  • FOREX Reserves remain robust

Further Measures by RBI in view of COVID 19:

  • Liquidity ManagementTargeted
  • Long Term Operations (TLTRO) 2.0
  • Refinancing Facilities for All India Financial Institutions (AIFIs)
  • Liquidity Adjustment Facility: Fixed Rate Reverse Repo Rate
  • Asset Classification
  • Extension of Resolution Timeline
  • Distribution of Dividend
  • Liquidity Coverage Ratio
  • NBFC Loans to Commercial Real Estate Projects
  • Incentivise Credit Flow
  • Ease Financial Stress
  • Re-Financing Facility to All India Financial Institutions
  • Special Refinance facilities to NABARD, SIDBI, NHB; Rs 50,000 Crore to be provided
  • Reverse repo rate reduced by 25 basis points
  • WMA Limit to states increased by 60 percent
  • Regulatory Measures Announced
  • Distribution of Dividend
  • LCR Requirement for Scheduled Commercial Banks is being brought to 80% from 100%
  • 90 day NPA Norm to exclude the lockdown period

RBI had announced an increase in the WMA limit of the States on April 1, 2020. With a view to providing greater comfort to the States to undertake COVID-19 containment and mitigation efforts and enable them to better plan their market borrowings, it has been decided to

  • increase the WMA limit of the States by 60% over and above the level as on March 31, 2020
  • The increased limit will be available till September 30, 2020.

To read the detailed statement of RBI Governor, please click the link below: 

STATEMENT

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