Will help small businesses: PM; Oppn says announce a package

IMPACT:

Liquidity coverage ratio (LCR) requirements for scheduled commercial banks reduced from 100% to 80% with immediate effect Relieves lenders from using a large part of their investments in only high-quality liquid assets

Reverse repo rate under LAF reduced by 25 bps to 3.75%

Banks will be pushed to deploy funds as loans instead of parking them with RBI

NEW DELHI: Prime Minister Narendra Modi on Friday said the decisions made by the Reserve Bank of India to provide a much-needed boost to the Indian economy amid the Covid-19 outbreak will greatly enhance liquidity and improve credit supply. Finance minister Nirmala Sitharaman said the central bank has taken

TRACKING THE VIRUS

1,707 1,323 1,310 1,229 3,320 steps to ease financial stress.

The opposition Congress, however, termed the RBI’S measures as “far too little”, saying the Centre needs to announce a sectorwise package.

Experts said though the RBI’S measures will provide relief, the central bank alone cannot do much to save the economy and 1,510 1,561 1,578 1,640 1,707

Scheduled commercial banks and cooperative banks cannot declare any further dividends in FY20 Banks will be able to conserve ital and be prepared to

losses haktikanta Das, BI governor the government must come up with a stimulus package. Pronab Sen, former chief statistician of India said, “Despite limitations, the RBI governor has done what was within his capacity, but the government has not yet really stepped in with policy and fiscal measures required in this unprecedented situation.”

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