RBI governor on COVID19 - Relaxations 27.03.2020

RBI governor speech gist dated 27.03.2020 !! Press Conference

1. Repo rate reduce - 0.75% : new rate 4.4%

2. Reverse repo rate reduce by 0.90%

3.CRR reduced by 100 basis points to 3%. ₹ 1.37 trillion of liquidity to be injected

4. Home loans - 3 months relaxation

5. Much awaited 3months  Moratorium on term loan across all financial institutions

6. OMOs are ongoing, LTROs are done. Regulatory moratoriums are done.

7. ₹ 1,00,000 crore 3 month bill auctions, first tranche of ₹25,000 crore auction starts today.

8. ₹3,74,000 lakh crore into the system.

9. Min daily CRR balance reduced from 90% - 80% till 30/06/2020

10. Total liquidity injection 3.4% of GDP

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