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GDP growth in 2020-21 to be in negative territory, says RBI Governor

The Reserve Bank Of India Governor Shaktikanta Das adressed the media on Friday, days after Union Finance Minister Nirmala Sitharaman announced the Rs 20 lakh crore stimulus package for the coronavirus-hit economy. 

  • RBI advances monetary policy committee meeting; cuts policy repo rate by 40 basis points, says Governor Das.
  • Six member monetary policy committee voted 5:1 in favour of 40 bps cut in interest rate: RBI Governor.
  • RBI cuts reverse repo rate to 3.35%; to maintain accommodative stance: Governor Shaktikanta Das.
  • MSF, bank rate at 4.25%
  • Domestic eco activity impacted severely by pandemic
  • Govt revenues have been impacted severely due to slowdown in economic activity amid COVID-19 outbreak, says RBI Governor Das.
  • RBI Governor says India seeing collapse of demand; dip in electricity, petroleum product consumption; fall in private consumption.
  • Headline inflation may remain firm in first half of year; ease in second half, falling below 4% in Q3/Q4 of FY21: RBI Governor.
  • Inflation outlook highly uncertain; elevated level of inflation in pulses worrisome, requires review of import duties: RBI Governor.
  • GDP growth in 2020-21 to be in negative territory: RBI Governor.
  • Combination of fiscal, monetary and administrative actions will create conditions for revival of economy in 2nd half of FY21: RBI Governor.
  • RBI to roll over Rs 15,000-cr refinance facility for SIDBI for 90 days: Governor Das.
  • Monetary policy transmission has continued to improve: RBI Governor.
  • RBI to extend Rs 15,000-cr line of credit to EXIM Bank: Governor Das.
  • RBI increases export credit period to 15 months from 1 yr: Governor Das.
  • RBI extends moratorium on loan repayments by three more months in view of COVID-19: RBI Governor.
  • Group exposure limit for lenders to corporates raised to 30% from 25%: RBI Governor.