On 27 March, 2020

RBI Governor Press Highlights:

27^th March, 2020

 

1. Repo rate reduced by 75 basis points to 4.4%
2. Reverse Repo rate reduced by 90 basis points to 4%
3. GDP growth for Q4 19-20 and FY 20-21 to be affected
4. Aggregate demand may weaken
5. Future outlook uncertain and negative
6. CRR reduced by 100 basis points to 3% for 1 year to release 1.37 lakh crores
7. Min daily CRR balance reduced from 90% – 80% till 30/06/2020
8. 3.74 lakh crore liquidity injected
9. 3 month moratorium on payment of installments of Term Loan outstanding
10. Interest on WC facilities to be deferred by 3 months
11. Such deferment not to be considered for NPA
12. Revised DP calculations by reassessing WC cycle
13. All measures not to effect credit history
14. 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