{"id":8861,"date":"2020-04-20T12:45:41","date_gmt":"2020-04-20T12:45:41","guid":{"rendered":"\/blog\/?p=8861"},"modified":"2020-05-06T06:54:08","modified_gmt":"2020-05-06T06:54:08","slug":"rbis-2nd-press-conference-post-covid-19-lockdown","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/rbi-regulations\/rbis-2nd-press-conference-post-covid-19-lockdown\/","title":{"rendered":"RBI\u2019s 2nd Press Conference Post COVID-19 Lockdown"},"content":{"rendered":"\n

Continuing from when he signed off from the last press conference\nheld on March 27, the RBI governor Shaktikanta Das announced measures that\nevoked positive response from the stakeholders including the stock markets.<\/p>\n\n\n\n

The measures announced by the RBI took into account the state of\nthe economy and the need for liquidity post April 20th<\/sup> when there\ncould be relaxation in lockdown restrictions and post May 3rd<\/sup> when\nlockdown could be withdrawn. <\/p>\n\n\n\n

The gist of the governor\u2019s measures is as follows:<\/p>\n\n\n\n

\"Governor\u2019s<\/figure>\n\n\n\n

Reverse\nRepo Rate<\/strong><\/p>\n\n\n\n

The fixed reverse repo rate under liquidity adjustment facility\n(LAF) is reduced by 25 basis points to 3.75% from 4% with immediate effect.<\/p>\n\n\n\n

Targeted Long Term Repos Operations (TLTRO) 2.0 of Rs 50,000 crore<\/strong><\/p>\n\n\n\n

The RBI announced TLTRO 2.0 of \u20b950,000 crore with a provision\nto increase beyond this if needed. In order to help NBFCs and microfinance\ninstitutions (MFIs) banks are required to lend to NBFCs and MFIs. This measure\nwill help smaller NBFCs, HFCs and MFIs to avail funds and remain liquid to\ncommence their operations post May 3 when lockdown could be withdrawn.<\/p>\n\n\n\n

Liquidity\nCoverage Ratio (LCR) reduced to 80%<\/strong><\/p>\n\n\n\n

The LCR coverage requirement for scheduled commercial banks is\nbrought down to 80% from 100% with immediate effect. This would be restored to 90 percent by October 2020 and 100\npercent by April 2021.<\/p>\n\n\n\n

Ways and\nMeans Advances (WMA) limit increased by 60%<\/strong><\/p>\n\n\n\n

The WMA limit of state governments is increased by 60 percent\nuntil September 30, 2020. This measure will help states to phase out their\nborrowings as well as borrow at lower rates. <\/p>\n\n\n\n

Additional Read<\/strong>:- RBI Press Conference on Monetary Relief Measures in the Time of COVID-19: Key Takeaway<\/a> <\/p>\n\n\n\n

Dividend\nHoliday for Banks<\/strong><\/p>\n\n\n\n

Banks have been given a dividend holiday until further notice to\ntide over the financial difficulties faced by them due to the pandemic.<\/p>\n\n\n\n

90-day NPA\nNorm not to apply<\/strong><\/p>\n\n\n\n

In view of the moratorium granted on existing loans by banks,\nNBFCs and other lending institutions the 90-day NPA norm will not be applicable.\nThe governor said, \u201cBanks to maintain higher provision at standstill, which can\nbe adjusted later for actual slippages.” Banks have also been asked to provide\nadditional 10 percent till a review is made.<\/p>\n\n\n\n

Special\nRefinance Facilities to NABARD, SIDBI and NHB<\/strong><\/p>\n\n\n\n

National Bank for Agriculture and Rural Development, Small\nIndustries Development Bank of India and National Housing Bank will receive\nspecial refinance facilities of Rs 25,000 crore, Rs 15,000 crore and Rs 10,000\ncrore respectively amounting to Rs 50,000 crore for them to meet their sectoral\ncredit needs.<\/p>\n\n\n\n

NBFC Loans\nto Real Estate on par with Banks<\/strong><\/p>\n\n\n\n

Loans given by NBFCs to real estate companies to get similar\nbenefit as given by scheduled commercial banks. NBFCs can extend loans to delayed commercial real\nestate projects without restructuring.<\/p>\n\n\n\n

Additional Read<\/strong>:- Will Coronavirus Exacerbate India\u2019s Economic Slowdown? <\/a><\/p>\n\n\n\n

Booster\nPackage for Small and Medium-sized Industries (SME)<\/strong><\/p>\n\n\n\n

The SME industries will receive a booster package of Rs 50,000\ncrore to help them recover from the effects of the lockdown.<\/p>\n","protected":false},"excerpt":{"rendered":"

Continuing from when he signed off from the last press conference held on March 27, the RBI governor Shaktikanta Das announced measures that evoked positive response from the stakeholders including the stock markets. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":8862,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[48,39],"tags":[],"class_list":["post-8861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government-updates","category-rbi-regulations"],"yoast_head":"\nRBI\u2019s 2nd Press Conference: Post COVID-19 Lockdown - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Check out the gist of governor's measures into account the state of the economy due to the COVID-19 outbreak. 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