Quick Summary
RBI announces second set of measures to preserve financial stability and help put money in the hands of the needy and disadvantaged States and UTs allowed to borrow more to manage COVID-19 Reverse Repo rate reduced from 4.0% to 3.75% Relief provided to NBFCs and Real Estate Sector We will cure and endure, India is projected to turn around and grow at 7.4% in 2021-22: RBI Governor In the midst of death life persists, in the midst of untruth truth persists, in the midst of darkness
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FAQ :
The main goal is to maintain adequate liquidity in the system, facilitate bank credit flow, ease financial stress, and ensure the normal functioning of markets during the COVID-19 pandemic.
A second set of TLTRO 2.0 will be conducted for an initial aggregate amount of Rs. 50,000 crore to facilitate funds flow to small and mid-sized corporates, including NBFCs and MFIs.
Yes, the Reverse Repo Rate under the Liquidity Adjustment Facility has been reduced by 25 basis points from 4.0% to 3.75% with immediate effect.
The Ways and Means Advances (WMA) limit for states and union territories has been increased by 60% to provide greater comfort for COVID-19 containment efforts and market borrowing.
The treatment for loans to commercial real estate projects regarding the date for commencement of commercial operations (DCCO) has been extended to NBFCs, offering relief to both sectors.
India is projected to achieve positive growth of 7.4% in 2021-22, which is the highest among G-20 economies.
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