• TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
Wednesday, July 9, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

RBI Governor meets MD of banks; reviews implementation of various measures

Press Trust of india by Press Trust of india
May 3, 2020
in BUSINESS
A A
0
Coronavirus outbreak to hit global growth; to have limited impact on India: RBI Guv
FacebookTwitterWhatsapp

New Delhi: Reserve Bank of India Governor Shaktikanta Das on Saturday held a meeting with the heads of banks and reviewed the economic situation and implementation of various measures announced by it to reduce stress in the financial system amid the COVID-19 crisis.

The meeting, which happened in two separate sessions through video conference, saw participation of managing directors and CEOs of major public and private sector banks, the RBI said in a statement after the meeting.

Related posts

Sweeping Trump tariffs draw dismay, calls for talks from countries around globe

US close to making trade deal with India: Trump

July 8, 2025

101 Indian students get Erasmus+ scholarships for higher education in Europe

July 8, 2025

In his opening remarks, the governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

During the meeting, among other matters, review of the current economic situation and stability of the financial sector among other things were discussed.

Credit flows to different sectors of the economy, including liquidity to non-banking financial companies, microfinance institutions, housing finance companies, mutual funds, etc and post lockdown credit flows including provision of working capital, with special focus on credit flows to MSMEs were also deliberated.

Implementation of three months moratorium on repayment of loan instalments announced by the RBI was also reviewed during the meeting.

The Supreme Court earlier this week directed the RBI to ensure that its March 27 guidelines directing lending institutions to allow a three-month moratorium to all borrowers is implemented in letter and spirit.

Monitoring of overseas branches of banks in view of the slowdown in economies across the globe was discussed, it added.

The Reserve Bank has announced several steps to ease the pressure being faced by borrowers, lenders and other entities including mutual funds and has promised to take more initiatives to deal with the developing situation.

The RBI has injected funds totalling 3.2 per cent of GDP into the economy since the February 2020 monetary policy meeting to tackle the liquidity situation.

The RBI has been prompting banks to push lending by cutting its key policy rate by 75 basis points to an 11-year low of 4.4 per cent. Besides, it also slashed reverse repurchase rate, a tool to control the money supply, to 3.75 per cent to encourage banks to deploy surplus funds within the system towards lending.

The reverse repo rate cut will discourage banks from parking cash with the RBI and encourage them to lend to the economy.

The Indian economy may be headed for a rare quarterly contraction during April-June as economic activities have come to a halt due to the coronavirus lockdown.

The government had earlier unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the challenges posed by the outbreak of COVID-19 pandemic.

Previous Post

Kim reappears in public, ending absence amid health rumours

Next Post

Armed forces make preparations to say ‘thank you’ to ‘corona warriors’ on Sunday

Press Trust of india

Press Trust of india

Next Post
Army chief visits Vaishno Devi shrine

Armed forces make preparations to say 'thank you' to 'corona warriors' on Sunday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: [email protected]

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.