Highlights Of RBI Guv. Shaktikanta Das Address To Media On Covid-19 Pandemic Today
MPC voted for the reduction of policy repo rate
Reverse repo rate reduced by 90 basis points to 4%
RBI reduces policy repo rate by 75 basis points from 5.15% to 4.4%
Monetary Policy Committee met from March 24 to March 27
RBI Governor says the outlook is now heavily contingent upon intensity, spread, and duration of the pandemic
RBI Guv Says There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection.
RBI Guv Says There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection
RBI Guv Says MPC decides to refrain from growth & inflation targets, given the uncertainty.
Guv Says Need of the hour is to shield the domestic economy from COVID-19 pandemic.
India FY20 GDP growth forecast of 5% is now at risk
RBI Says Collapse in food prices could work towards easing food price pressures.
Guv Says Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital
Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital
The multi-pronged approach adopted to ease COVID-19 related liquidity constraints
The first auction of Rs 25,000 cr will be conducted later today
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
CRR cut will release Rs 1.37 lk cr into market
Cash reserve ratio cut by 100 bps
The global slowdown can deepen with adverse implication for India; crude oil slump upside for India
A moratorium of three months of EMIs on all outstanding loans.
RBI Governor says working capital facilities Now Lenders can allow a 3-month moratorium on internet payments, says
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
