Reserve Bank of India (RBI) governor Shaktikanta Das on Friday addressed the media via video conferencing to announce measures to support economy during the ongoing coronavirus crisis. The RBI chief unveiled a slew of measures which included reduction in reverse repo rate and liquidity support for financial institutions, among others.
RBI governor Shaktikanta Das addressed the media amid the ongoing coronavirus crisis. Under liquidity adjustment facility (LAF), reverse repo rate (rate at which RBI borrows funds from banks) reduced by 25 basis points to 3.75%; repo rate unchanged (4.40%) as the decision is taken by the Monetary Policy Committee, Das announced.
Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced a 75 basis points cut in its policy repo rate to deal with the impact of deadly coronavirus outbbreak on the economy.
Allaying depositors’ concerns, Reserve Bank of India (RBI) governor Shaktikanta Das on Friday asserted that the Indian banking system is safe, and termed linking banks’ share prices to safety of deposits as “fallacious” thinking.
The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said that the RBI will support the crisis-hit Yes Bank with liquidity and assured depositors that their money continues to be safe.
BI governor Shaktikanta Das has indicated that investors would not have to wait for 30 days for the moratorium on Yes Bank to be lifted and a resolution was likely much earlier. “You will see very swift action on the part of the RBI to put in place a scheme to revive the bank,” said Das, speaking to reporters on the sidelines of Assocham’s annual banking summit.
Reserve Bank of India (RBI) governor Shaktikanta Das on Friday said the deadly coronavirus — which has claimed more than 3,000 lives so far — may further impact global growth.
The Reserve Bank of India (RBI) will be proactive in dealing with threats stemming from the coronavirus outbreak and will have assessed the potential impact on India by the next rate decision due April 3, governor Shaktikanta Das said.
Throwing his weight behind finance minister Nirmala Sitharaman’s Budget numbers, Reserve Bank of India (RBI) governor Shaktikanta Das said that there is no reason to doubt that the government will be able to cut fiscal deficit to 3.5 per cent of the GDP in the fiscal beginning April 1.
Reserve Bank of India (RBI) governor Shaktikanta Das on Saturday said transmission of rate cuts is expected to improve further in the coming days and that momentum is gathering pace on credit growth.
The RBI offered to inject as much as $14 billion cash through one- and three-year funding operations, akin to the long-term repos put in place by the European Central Bank under Mario Draghi. Draghi is credited with rescuing the euro from disaster at the height of its debt crisis.
Reserve Bank of Indai (RBI) governor Shaktikanta Das on Thursday said the central bank has no plans to monetise the rising fiscal deficit. This is the third consecutive year that the government has revised its fiscal deficit target.
Reserve Bank of India (RBI) governor Shaktikanta Das’s moves to regulate non-banking finance companies (NBFCs) without hand-outs has won him the title of Asia-Pacific’s central banker of the year.