Key highlights from RBI Press Meet
MPC advanced its meeting (earlier it was scheduled on 3rd April). RATE CUT OF 75bps to 4.4%. Reverse repo cut by 90bps bps at 4% - widening the corridor. MPC voted in ratio of 4:2 in favour of rate cut. -
Liquidity measures for banks
CRR - CRR is reduced by 100bps to 3% of NDTL for period of 1 year - Rs. 137000 crore will get released across the banking system.
minimum daily CRR mainatianence reduced to 80% from 90% ( for period till June)
these liquidity measure will inject Rs. 374000 crore to the system
Regulatory measures
moratorium on term loans - all lending institutions are allowed to have moratorium of 3 months wrt to term loans
deferememnt of interest on WCL - deferment of payment for 3 months, accumulated payment will be done after this period.
easing of WCL all these will not lead to any changes in the lending institutions.
NSFR - deferring implementation by 6 months.
Deferement of CCB of last tranche 0.625% by 6 months.
MPC advanced its meeting (earlier it was scheduled on 3rd April). RATE CUT OF 75bps to 4.4%. Reverse repo cut by 90bps bps at 4% - widening the corridor. MPC voted in ratio of 4:2 in favour of rate cut. -
Liquidity measures for banks
CRR - CRR is reduced by 100bps to 3% of NDTL for period of 1 year - Rs. 137000 crore will get released across the banking system.
minimum daily CRR mainatianence reduced to 80% from 90% ( for period till June)
these liquidity measure will inject Rs. 374000 crore to the system
Regulatory measures
moratorium on term loans - all lending institutions are allowed to have moratorium of 3 months wrt to term loans
deferememnt of interest on WCL - deferment of payment for 3 months, accumulated payment will be done after this period.
easing of WCL all these will not lead to any changes in the lending institutions.
NSFR - deferring implementation by 6 months.
Deferement of CCB of last tranche 0.625% by 6 months.
