RBI Governor Press Highlights:
27th March, 2020
- Repo rate reduced by 75 basis points to 4.4%
- Reverse Repo rate 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 installments of Term Loan outstanding
- 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
For more details and clarification please contact :
CA Naresh Jakhotia, Treasurer, VIA -9923454259
CA Girish Deodhar, Former Treasurer, VIA -9822228474
CA O. S. Bagadia, Former VP, VIA -9823056180
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