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TMI Blog20 Key Highlights of RBI Press Conference dated 17.04.2020X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 Key Highlights of RBI Press Conference dated 17.04.2020 - By: - CSLalit Rajput - FEMA - Foreign Exchange Management - Dated:- 21-4-2020 - - 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 ₹ 50,000 crore. 2. India expected to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ₹ 25000 crore is to be conducted today (April 17) 6. financial conditions have eased considerably and activity in corporate bond market has picked ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3853 and https://rbidocs.rbi.org.in/rdocs/Content/PDFs/GOVERNORSTATEMENTF22E618703AE48A4B2F6EC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4A8003F88D.PDF - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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