HIGHLIGHTS | RBI extends three-month loan moratorium from June 1 to August 31
Notably, this will be the third presser by Das in the context of coronavirus related measures in the last two months. The first one was held on March 27 and the second one was on April 17.
The Reserve Bank of India (RBI) Governor Shaktikanta Das has extended three-month loan moratoirum, from June 1 to August 31.
Notably, this is the third presser by Das in the context of coronavirus related measures in the last two months. The first one was held on March 27 and the second one was on April 17.
In these two pressers, the RBI governor had announced several measures to ease liquidity pressure in the banking system and to boost the economy from the coronavirus shock.
RBI Shaktikanta Das concludes the press conference
RBI is vigilant and ready to do whatever it takes to tackle the unknown future
RBI Governor Shaktikanta Das (File photo | PTI)
RBI has expanded its array of conventional and unconventional measures to manage liquidity, says Governor Shaktikanta Das in a live address today.
Measures divided into 4 categories
Measures announced today can be divided into 4 categories: to improve functioning of markets,to support exports&imports,to ease financial stress by giving relief on debt servicing&better access to working capital&to ease financial constraints faced by state govts: RBI pic.twitter.com/NDdsrUkd7d
RBI extends the three-month loan moratoirum, from June 1 to August 31
RBI makes policy announcements
Improve functioning of markets and market participants
Support exports and imports
Relief on debt servicing
Steps to ease the financial constraints of state governments
Monetary policy transmission has improved
An improvement in passing on a lower rate to borrowers has been noticed across various business segments: RBI Governor
Highly uncertain inflation outlook
Supply chock in April will persist for the next coming months, says Das
GDP growth is estimated to be in negative territory in FY 2020-2021: RBI Governor Das
Headline inflation may remain firm in the first half, but will ease out in the second half
RBI governor Shaktikanta Das (File photo | PTI)
India's foreign exchange reserves increased
India's foreign exchange reserves have increased by 9.2 billion during 2020-21 from 1st April onwards. So far, up to 15th May, foreign exchange reserves stand at 487 billion US dollars, says Das.
Volume of world trade can shrink by 13-32% this year: RBI Governor
Private consumption slumped during COVID-19
The biggest blow came from private consumption slump with consumer durables production falling 33 percent in March 2020: Das
Food grain production up 3.7 per cent
Amidst this encircling gloom agriculture and allied activities have, however, provided a beacon of hope on the back of an increase of 3.7% in food grain production to a new record: RBI Governor Shaktikanta Das
Agricultural sector has offered a ray of hope, Shaktikanta Das says
For representational purpose. (File Photo | Biswanath Swain, EPS)
"Industrial production shrank by close to 17% in March with manufacturing activity down by 21%. Output of core industries contracted by 6.5%," says Das
Coronavirus impact
Top 6 states contributing to manufacturing in red
Power and fuel consumption has plunged
Double whammy- losses in production and crashing demand
RBI maintains accommodative stance: Das
Repo rates cut by 40 basis points to 4 per cent
The repo rate cut by 40 basis points from 4.4 % to 4%. Reverse repo rate stands reduced to 3.35%: RBI Governor Shaktikanta Das
