'GDP a reflection of ravages of COVID-19': RBI Guv Shaktikanta Das says economic recovery likely to be gradual
The RBI governor said the Indian central bank stands battle-ready to take whatever steps that are needed to be taken for the economy
The apex court had earlier asked the Centre and the RBI to review the move to charge interest on deferred EMIs during the moratorium period
RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to historic low.
The RBI governor said preserving long-term stability of the financial system is the key to recovery of economic growth
Coronavirus Outbreak Updates: Bihar records 228 new COVID-19 cases today, taking total to 2,394; 11 deaths reported till date
Coronavirus Outbreak Updates: As many as 228 people tested positive for COVID-19 in Bihar on Saturday, taking the total number of cases in the state to 2,394, PTI quotes the health department as saying.
Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494
Coronavirus Outbreak LIVE Updates: Two police stations have been sealed partially after a head constable was tested positive for COVID-19. According to police, the infected head constable was overseeing the arrangements to quarantine people who came from Mumbai.
RBI cuts repo rate by 40 bps: It is unexpected like rain in summer; regulatory, monetary measures to boost economy, say experts
The Reserve Bank of India (RBI) on Friday slashed the benchmark lending rate by 40 basis points to mitigate the impact of COVID-19 crisis.
Coronavirus Outbreak: RBI slashes benchmark lending rate by 40 bps; extends moratorium on loans for another 3 months
In an off-cycle meeting of the Monetary Policy Committee (MPC), the decision was taken unanimously to cut repo to support growth.
This will be third presser of the RBI governor in the context of COVID-19 related measures in last two months.
Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown.
Banking declared as public utility service for six months till 21 October; employees will not be able to go on strikes
All public sector banks, old generation private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Federal Bank are members of IBA
Coronavirus Outbreak: Despite personal loss, Assam hospital cleaner stays put in quarantine; doctors, nurses spend time reading, watching shows
Quarantine is definitely more screentime albeit on the consumers' end. Be it the mobile phone or the television, perhaps both are the best tools to be exploited to the core when in quarantine.
Coronavirus Outbreak updates: COVID-19 count in Delhi reaches 1,893; No decision yet on starting domestic, international flights, says Hardeep Singh Puri
Coronavirus Outbreak updates:Civil Aviation Minister Hardeep Singh Puri on Saturday said airlines are advised to open bookings only after the government takes a decision on starting domestic and international commercial passenger flight services.'The Ministry of Civil Aviation clarifies that so far no decision has been taken to open domestic or international operations,' he wrote on Twitter.
Coronavirus Outbreak LIVE Updates: With 118 new COVID-19 cases today, tally in Maharashtra crosses 3,000-mark; toll rises to 194
Coronavirus Outbreak LIVE Updates: The Union health ministry said that about 63,000 personal protective equipment (PPE) kits which arrived from China recently did not fulfill the criteria.
Stock Market Latest Updates: Sensex surges over 900 points, Nifty holds 9,200-level; Axis Bank, ICICI Bank among major gainers
Stock Market Today LIVE Updates: Sensex up over 930 points, Nifty above 9,300-level; RBI Governor Shaktikanta Das begins conference
The RBI on Friday allowed non-bank financial companies to extend the date for commencement of commercial operations (DCCO) for loans given to commercial real estate by additional one year without considering it as restructuring
RBI Governor Press Conference: Shaktikanta Das announces relief measures for liquidity in system, to ease financial stress
Stating that the RBI is monitoring the situation developing out of Covid-19 outbreak, he noted that the contraction in exports in March at 34.6 percent was much more severe than global financial crisis of 2008-09.
Under reverse repo operation, the RBI borrows money from banks by lending securities.
The RBI may also clarify if the three-moratorium applies to non-banking finance companies as well.
Raghuram Rajan, 57, who was the Reserve Bank of India (RBI) governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago