A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das is set to address a press conference, with possible monetary assistance.
27 Mar, 20 11:05 AM
SIDBI relief package for MSEs
MSEs engaged in manufacturing of hand sanitizers, masks, gloves, head gear, body suits, shoe-covers, ventilators, goggles, testing labs etc. can avail loans up to Rs. 50 lakh at a fixed interest rate of 5 per cent for a maximum loan repayment tenure of 5 years. These are collateral-free loans and may be sanctioned within 48 hours of applying and submission of documents.
27 Mar, 20 11:04 AM
1% reduction In CRR and raising MSF to inject more liquidity will be an additional boost to stimulate economy
Like other major global central banks, RBI today went with an emergency rate cut of 75 bps and reduced reverse repo by 90 basis points to make it unattractive for banks to park funds with RBI. Launch of LTRO up to 1 lakh crore, 1% reduction In CRR and raising MSF to inject more liquidity will be an additional boost to stimulate the economy. - Abhishek Goenka, Founder & CEO, IFA Global
27 Mar, 20 10:59 AM
RBI raises MSF from 2 per cent of SLR to 3 per cent
RBI raises the Marginal Standing Facility (MSF) from 2 per cent of SLR to 3 per cent with immediate effect.
27 Mar, 20 10:59 AM
Auctions of targeted LTROs for up to Rs 1 lakh crore
RBI to conduct auctions of targeted LTROs for up to Rs 1 lakh crore - RBI Governor
27 Mar, 20 10:56 AM
India's macroeconomic situation better than 2008
RBI Governor Shaktikanta Das said that India's macroeconomic situation is better than 2008, as inflation is benign
27 Mar, 20 10:53 AM
Amount of variable rate term repo auction doubles to Rs 50,000 crores
The Reserve Bank has enhanced the amount of variable rate term repo auction to Rs 50,000 crores from Rs 25,000 crores.
27 Mar, 20 10:50 AM
RBI allows 3-month moratorium on all loans
All Banks, lending institutions may allow a 3-month moratorium on all loans - Shaktikanta Das
27 Mar, 20 10:49 AM
Fallacious to link bank share price to its stability
RBI Goveornor said the Indian Banking system is safe and added that it was fallacious to link bank share price to the safety of deposits with the bank. This comes after the struggling private lender Yes Bank saw its share price tank just as RBI superseded its board.
27 Mar, 20 10:44 AM
RBI allows banks to deal in NDF market
NDF market has been growing rapidly; bank allowed to deal in NDF market - Shaktikanta Das
27 Mar, 20 10:41 AM
3 liquidity measures together will release primary liquidity of Rs 3.74 lakh crore
3 liquidity measures together will release primary liquidity of Rs 3.74 lakh crore across the banking system - RBI Governor Shaktikanta Das.
27 Mar, 20 10:41 AM
RBI injects liquidity of Rs 2.8 lakh crore via various instruments
The Reserve Bank has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP since the last policy in February. - Shaktikanta Das
27 Mar, 20 10:38 AM
RBI assures banking system, depositors' money are safe
RBI Governor Shaktikanta Das assures that the Indian banking system is sound and depositors' money is safe.
27 Mar, 20 10:36 AM
RBI will remain vigilant, continue to provide support
RBI will continue to remain vigilant, and do whatever will be required to provide support to support the economy amid COvid-19 scare.
27 Mar, 20 10:36 AM
Deferment of interest payment will not result in asset classification downgrade
Moratorium on term loans, deferment of interest payment will not result in asset classification downgrade - Shaktikanta Das
27 Mar, 20 10:35 AM
Banks may reassess working capital cycle
Banks may reassess working capital Cycle, won’t be treated as NPA - Shaktikanta Das
27 Mar, 20 10:32 AM
NSFR deferred b y six months
Net Stable Funding Ratio deferred by six months - Shaktikanta Das
27 Mar, 20 10:31 AM
RBI allows to defer loan repayment
All financial institutions allowed to defer loan repayment for three months, with no asset downgrade - Shaktikanta Das
27 Mar, 20 10:29 AM
CRR cut will release Rs 1.37 lakh crore into market, says Shaktikanta Das
27 Mar, 20 10:28 AM
CRR daily balance is cut from 90% to 80%
Minimum CRR daily balance is cut from 90% to 80%, due to social distancing in banks. - Shaktikanta Das
27 Mar, 20 10:26 AM
CRR is cut by 100 basis points to 3%
Despite ample liquidity in the system, the transmission is slow, hence CRR is cut by 100 basis points to 3 per cent. - Shaktikanta Das
27 Mar, 20 10:23 AM
RBI announces comprehensive package
RBI announces comprehensive package, including, measures to expand liquidity, steps to reinforce monetary transmission, efforts to ease financial stress by relaxing repayment, and endeavour to improve the functioning of the market.
27 Mar, 20 10:23 AM
We are fighting an invisible assassin: Das
RBI Governor Das said that the world is fighting an invisible assassin, as he announced a repo rate cut of 75bps taking the rate effectively to 4.4%
27 Mar, 20 10:22 AM
MPC cuts reverse repo rate by 90 basis points
MPC cuts reverse repo rate by 90 basis points to make it less attractive for banks to stack cash in RBI. - Shaktikanta Das
27 Mar, 20 10:22 AM
MPC takes measure to inject liquidity into system
MPC takes measure to inject liquidity into system, advices bank to do everything to release credit. - Shaktikanta Das
27 Mar, 20 10:21 AM
Growth and Inflation projections badly hit : RBI Governor
Projections of growth and inflation could be badly hit, MPC has refrained from giving specific growth and inflation numbers.
27 Mar, 20 10:19 AM
Outlook for India is uncertain
The outlook is completely uncertain and this type of outlook has never been witnessed. - Shaktikanta Das
27 Mar, 20 10:18 AM
Large part of the world may face recession
Global economic activity have come to a standstill; the rising probability that a large part of the world faces recession. - RBI Governor Shaktikanta Das
27 Mar, 20 10:17 AM
Global slowdown could deepen and affect India, crude oil prices could help: Das
The Reserve Bank of India said that India could be hit with the global economy slowing down because of Coronavirus.
27 Mar, 20 10:14 AM
MPC met ahead of time and voted 4-2 for a rate cut
The Monetary Policy Committee voted 4-2 in favour of a rate cut.
27 Mar, 20 10:13 AM
RBI is on a war footing to fight the Coronavirus: Shaktikanta Das
RBI is ready to fight the coronavirus, we are fighting the Coronavirus at our end as well, said Shaktikanta Das.
27 Mar, 20 10:13 AM
MPC meet met ahead of the scheduled date, cuts rate by 75 basis points
RBI governor announced the Monetary Policy Committee met early and decided to cut repo rate by 75 basis points.
27 Mar, 20 10:07 AM
Equity markets jump ahead of RBI Governer's press meet
S&P BSE Sensex is up almost 1,000 points ahead of the RBI press conference and the broader NSE Nifty-50 is up by over 300 points inching closer to 9,000 level.