Best forex robot 90-day NPA norm to exclude lockdown days, Rs 50,000 crore for NABARD: Here’s what RBI announced today thumbnail

Best forex robot 90-day NPA norm to exclude lockdown days, Rs 50,000 crore for NABARD: Here’s what RBI announced today

Business/Investing

Best Forex (Click Here For Best Forex Techniques) robot

By: Express Web Desk|New Delhi |

Updated: April 17, 2020 1: 04: 15 pm





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In a slew of measures to boost the economy amidst the coronavirus pandemic and subsequent 40- day lockdown, the Reserve Bank of India (RBI) Friday minimized the reverse repo rate by 25 basis points, from 4 percent to 3.75 percent, to encourage banks to invest. The policy rate remains the same.

Guv, Shaktikanta Das, said the main bank is keeping an eye on situation establishing out of COVID-19 break out as he announced a string of relief steps for the stressed out banking and monetary sector.

” The International Monetary Fund (IMF) has predicted the Indian GDP at 7.4%in 2020-21,” he told reporters in the 35- minute briefing.

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Best Forex (Click Here For Best Forex Techniques) robot Here is a look at some of the bottom lines that the RBI head made today:

* India sharp turnaround, IMF jobs Indian GDP at 7.4%in 2021-22

* West Bengal, Telangana, Odisha, Assam, Chhattisgarh leading in sowing in spite of lockdown

* Forex (Click Here For Best Forex Techniques) reserves robust at $4765 billion on April 10 (118 months of imports)

* ATMs at 81%of capacity

* IMF projection of 1.9%GDP growth for India is highest in G20

* India is anticipated to post sharp turnround in 2021-22

* Impact of Covid-19 not caught in IIP data for February

* Automobile production, sales decreased sharply in March; electrical energy demand has fallen greatly

* Contraction in exports in March at 34.6%a lot more serious than international monetary crisis of 2008-09

* Surplus liquidity in banking system has increased considerably as result of reserve bank actions

* No downtime of internet or mobile banking throughout lockdown; banking operations typical

* RBI liquidity injection at 3.2%of GDP from February 6 till March 27

* LTRO-2.0 to include Rs 50,000 crore to begin with

* Rs 50,000 crore unique finance facility to be offered to banks such as Nabard, Sidbi, NHB

* Repo rate stays unchanged

* RBI cuts reverse repo rate from 4%to 3.75%

* 90- day NPA norm not to use on moratorium approved on existing loans by banks

* Banks not to make any additional dividend payout in view of monetary difficulties occurring from Covid-19

* Liquidity Coverage Ratio requirement of banks lowered to 80%from 100%; to be brought back in stages by April next year

* CPI inflation declined in March; inflation is on a declining trajectory

* Loans provided by NBFCs to realty business to get similar advantage as offered by scheduled industrial banks

* WMA for states increased by 60%over and above the level as on March 30

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