RBI Governor says situation has reversed from being on foothills of strong economic recovery to facing a fresh crisis.
#RBI Governor @DasShaktikanta: Gratitude to all health workers and police force working since a year.
Forex reserve of US $ 588 bn gives confidence to fight global spillover.
Covid Vaccine would be available to all by second half of 2022.
Normal monsoon should help contain food price pressures, especially in cereals and pulses. Merchandise imports and exports continue to witness robust growth performance, even in April 2021. Foreign exchange reserves give us confidence to deal with global spillovers
Aggregate supply conditions are underpinned by resilience of the agricultural sector, the record footprint productions and buffer stocks in 2021 provide food security and support to the other sector of the economy:
He announced a term liquidity facility of `50,000 cr for access to emergency health security.
RBI announces rationalisation of KYC compliance norms, provides for video-based KYC for certain categories.
Banks will have Covid loan book will earn 40 bps more under Reverse repo. We have to marshal our resources for fighting the virus with vigour,
Individuals , MSME and small business with 25 cr loan shall be eligible under resolution 2.0.
Those who have availed earlier window of restructuring can be given additional 2 years of moratorium.
Special long term repo operations for small finance banks to provide further support to micro, small & other unorganized sector entities,3-yr repo operations of Rs. 10,000 crore at repo rate, for fresh lending up to Rs 10 lakh per borrower;facility up to 31 Oct’ 21:
Given the positive response from the market, it has been decided that the second purchase of govt securities for an aggregate amount of Rs 35,000 crores under G-SAP 1.0 will be conducted on 20th May:
The forecast of a normal monsoon by IMD is expected to sustain rural demand and overall output in 2021-22, while also having soothing impact on inflation pressures: RBI Governor
RBI announce Relaxation in overdraft facility for States governments.