Highlights Of RBI Guv. Shaktikanta Das Address To  Media!

Highlights Of RBI Guv. Shaktikanta Das Address To  Media On Covid-19 Pandemic Today

1. MPC voted for the reduction of policy repo rate
2. Reverse repo rate reduced by 90 basis points to 4%
3. RBI reduces policy repo rate by 75 basis points from 5.15% to 4.4%
4. Monetary Policy Committee met from March 24 to March 27
5. RBI Governor says the outlook is now heavily contingent upon intensity, spread, and duration of the pandemic
6. RBI Guv Says There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection.
7. RBI Guv Says  There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection
8. RBI Guv Says MPC decides to refrain from growth & inflation targets, given the uncertainty.
9. Guv Says Need of the hour is to shield the domestic economy from COVID-19 pandemic.
10. India FY20 GDP growth forecast of 5% is now at risk
11. RBI Says Collapse in food prices could work towards easing food price pressures.
12. Guv Says Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital
13. Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital
14. The multi-pronged approach adopted to ease COVID-19 related liquidity constraints
15. The first auction of Rs 25,000 cr will be conducted later today
16. Target long-term repo operation (LTRO). Large sell-offs in markets have intensified pressure. RBI will conduct LTRO of up to 3-yr tenor of up to Rs 1 lk cr at a floating rate linked to the policy repo rate
17. CRR cut will release Rs 1.37 lk cr into market
18. Cash reserve ratio cut by 100 bps
19. The global slowdown can deepen with adverse implication for India; crude oil slump upside for India
20. A moratorium of three months of EMIs on all outstanding loans.
21. RBI Governor says working capital facilities Now Lenders can allow a 3-month moratorium on internet payments, says
22. It has been decided to reduce the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3% of Net Demand and Time Liabilities with effect from the fortnight beginning March 28 for a period of 1 year
23. Indian Banking System Is Safe and sound.
24. RBI Says Go Digital