RBI governor vide Press
Conference dated 17.04.2020 thanked
Corona Warriors, forefront of the battle against COVID-19 and discussed about
various relaxation due to COVID19.
1. launch of TLTRO 2.0 worth
Rs 50,000 crore.
2. India expected to post a
sharp turnaround in FY22 with 7.4% growth, as per IMF
3. announced a rate cut of
75 basis points.
4. Reverse repo rate is
being reduced by 25 bps from 4% to 3.75% under Liquidity adjustment facility (LAF)
5. The TLTRO option of Rs
25000 crore is to be conducted today (April 17)
6. financial conditions have
eased considerably and activity in corporate bond market has picked up.
7. Focused on following measures
announced by RBI:
·
Maintain liquidity in the system
·
Facilitate and incentivise bank credit flows
·
Ease financial stress
·
Enable formal working of markets
8. injected 3.2 percent of
GDP into the economy by RBI to tackle liquidity situation.
9. India expected to post a
sharp turnaround in FY22 with 7.4 percent growth as per IMF.
10. NPA classification will
exclude 90-day moratorium period.
11. LCR requirement of
scheduled commercial banks being brought down from 100 percent to 80 percent
with immediate effect and This shall be restores to 90 percent by October 2020
and 100 percent by April 2021.
12. Period of resolution
plan for NPAs to be extended by 90 days.
13. Loans given by NBFCs to
commercial real estate to get same relief.
14. Banks shall not make any
dividend payments until further orders.
15. ₹50,000
crore special finance facility to be provided to financial institutions such as
Nabard, Sidbi, NHB
16. No change in repo rate
which is decided by MPC.
17. Redemption pressures
faced by some mutual funds have moderated.
18. Automobile production,
sales declined sharply in March; electricity demand has fallen sharply.
19. ATM operations stood at
91%, no downtime on internet and mobile banking
20. Additional regulatory
measures being announced today, consistent with BASEL guidelines
Source: News / Press Conference
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