RBI Governor Shaktikanta Das to hold a press conference at 10 AM today
This will be third presser of the RBI governor in the context of COVID-19 related measures in last two months.
Reserve Bank of India (RBI) governor Shaktikanta Das will address a press conference today at 10 am. This will be third presser of the governor in the context of COVID-19 related measures in last two months.
— CNBC-TV18 (@CNBCTV18Live) May 22, 2020
The first one was on 27 March and the second on 17 April.
In the first two pressers, the RBI governor announced a series of measures to ease liquidity pressure in the banking system and cushion the economy from the COVID-19 shock.
These included a sharp 75 basis points rate cut in March and liquidity measures worth at least Rs 5 lakh crore in two rounds.
Besides, the RBI announced a three month moratorium for all term loan repayments between March 1 and May 31.
In March, the RBI felt that economic activity was above the pre-pandemic levels and decided to shift focus to curbing inflation, Das said, adding that it could not deliver a large rate hike immediately
The RBI governor said inflation is currently the biggest challenge confronting most economies in the world and the current surge is primarily because of global factors