- Repo rate reduced by 75 basis points to 4.4%
- Rev repo reduced by 90 basis points to 4%
- GDP growth for Q4 19-20 and FY 20-21 to be affected
- Aggregate demand may weaken
- Future outlook uncertain and negative
- CRR reduced by 100 basis points to 3% for 1 year to release 1.37 lakh crores
- Min daily CRR balance reduced from 90% – 80% till 30/06/2020
- 3.74 lakh crore liquidity injected
- 3 month moratorium on payment of instalments of Term Loan outstanding as on 01.03.2020
- Interest on WC facilities to be deferred by 3 months
- Such deferment not to be considered for NPA
- Revised DP calculations by reassessing WC cycle
- All measures not to effect credit history
- Total liquidity injection 3.4% of GDP
RBI Governor Press Highlights
Written by CA Nimesh Hariya
CA Nimesh R Hariya is a member of the Institute of Chartered Accountants of India (ICAI) since 2015. He also qualified as ISA, CS, M. Com. He has been conducting Statutory & Tax audit, Internal audit of large & medium scale Limited Companies, Carrying out Bank Audits and providing services in the field of accounts, Income Tax & Company Law matters.
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