{"id":228404,"date":"2020-04-17T10:14:17","date_gmt":"2020-04-17T04:44:17","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=228404"},"modified":"2020-04-17T18:28:01","modified_gmt":"2020-04-17T12:58:01","slug":"live-breaking-press-conference-by-rbi-governor-on-the-present-economic-situation","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/17\/live-breaking-press-conference-by-rbi-governor-on-the-present-economic-situation\/","title":{"rendered":"[LIVE] BREAKING |RBI announces second set of measures to preserve financial stability and help put money in the hands of needy and disadvantaged"},"content":{"rendered":"<p>Reserve Bank of India&#8217;s Governor Shaktikanta Das holds a press conference with regard to the Economic Situation.<\/p>\n<ul>\n<li>Economic Situation is being monitored closely.<\/li>\n<li>Macro Economic landscape deteriorating<\/li>\n<li>Global Financial Markets remain volatile<\/li>\n<li>Crude oil prices remain<\/li>\n<li>India set to post sharp economic turnaround<\/li>\n<li><strong>7.4% economic growth expected in F.Y 2020-2021<\/strong><\/li>\n<li>Manufacturing index lowest in last 4 months<\/li>\n<li>Surplus liquidity in banks<\/li>\n<li>FOREX Reserves remain robust<\/li>\n<\/ul>\n<p><strong>Further Measures by RBI in view of COVID 19:<\/strong><\/p>\n<ul>\n<li><span style=\"color: #ff0000;\"><strong>Liquidity ManagementTargeted <\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Long Term Operations (TLTRO) 2.0<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Refinancing Facilities for All India Financial Institutions (AIFIs)<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Liquidity Adjustment Facility: Fixed Rate Reverse Repo Rate<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Asset Classification<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Extension of Resolution Timeline<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Distribution of Dividend<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Liquidity Coverage Ratio<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>NBFC Loans to Commercial Real Estate Projects<\/strong><\/span><\/li>\n<li>Incentivise Credit Flow<\/li>\n<li>Ease Financial Stress<\/li>\n<li><strong>Re-Financing Facility to All India Financial Institutions<\/strong><\/li>\n<li><strong>Special Refinance facilities to NABARD, SIDBI, NHB; Rs 50,000 Crore to be provided<\/strong><\/li>\n<li>Reverse repo rate reduced by 25 basis points<\/li>\n<li><strong>WMA Limit to states increased by 60 percent<\/strong><\/li>\n<li>Regulatory Measures Announced<\/li>\n<li>Distribution of Dividend<\/li>\n<li><strong>LCR Requirement for Scheduled Commercial Banks is being brought to 80% from 100%<\/strong><\/li>\n<li><strong>90 day NPA Norm to exclude the lockdown period<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>RBI had announced an increase in the WMA limit of the States on\u00a0<a class=\"links\" href=\"https:\/\/www.rbi.org.in\/Scripts\/BS_PressReleaseDisplay.aspx?prid=49619\" target=\"_blank\" rel=\"noopener noreferrer\">April 1, 2020<\/a>. With a view to providing greater comfort to the States to undertake COVID-19 containment and mitigation efforts and enable them to better plan their market borrowings, it has been decided to<\/p>\n<ul>\n<li>increase the WMA limit of the States by 60% over and above the level as on March 31, 2020<\/li>\n<li>The increased limit will be available till September 30, 2020.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>To read the detailed statement of RBI Governor, please click the link below:\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/Content\/PDFs\/GOVERNORSTATEMENTF22E618703AE48A4B2F6EC4A8003F88D.PDF\">STATEMENT<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reserve Bank of India&#8217;s Governor Shaktikanta Das holds a press conference with regard to the Economic Situation. Economic Situation is being monitored <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[40732,40733,29622],"class_list":["post-228404","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news","tag-economic-situation","tag-manufacturing-index","tag-rbi-governor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>[LIVE] BREAKING |RBI announces second set of measures to preserve financial stability and help put money in the hands of needy and disadvantaged | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/17\/live-breaking-press-conference-by-rbi-governor-on-the-present-economic-situation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[LIVE] BREAKING |RBI announces second set of measures to preserve financial stability and help put money in the hands of needy and disadvantaged\" \/>\n<meta property=\"og:description\" content=\"Reserve Bank of India&#8217;s Governor Shaktikanta Das holds a press conference with regard to the Economic Situation. 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