new Delhi. Reserve Bank of India (RBI) Governor Shaktikanta Das will hold a press conference today (May 22, Friday) at 10 am. During this time, RBI Governor Shaktikanta Das can also make some big announcements. The Reserve Bank of India has given this information via tweet. The tweet made on Friday morning said, "Today (May 22, 2020) at 10 am, RBI Governor Shaktikanta Das will address live."
This press conference of the RBI governor is being held at a time when the meeting of the Monetary Policy Committee is scheduled to be held from June 3 to 5. The Monetary Policy Committee is likely to announce its second bi-monthly monetary policy for 2020-21 on 5 June. Let us know that just a few days ago, the Union Finance Minister Nirmala Sitharaman gave a detailed description of the economic package of 20 lakh crore rupees. This economic package was announced by Prime Minister Narendra Modi in his address to the countrymen on May 12 at 8 pm to handle the economy from the Corona crisis.
Also recently a research report of SBI came out. The report said that the Reserve Bank of India (RBI) could extend the moratorium on debt repayment for another three months due to extending the nationwide lockdown till 31 May.
Significantly, on April 17 last, in view of the Corona crisis and lockdown, the RBI announced several reliefs. In which the reverse repo rate was cut by 25 basis points, now the reverse repo rate has been reduced from 4 percent to 3.75 percent. Banks will benefit from the reverse repo rate reduction. Banks will not have difficulty in getting loans. Earlier on March 27, the Reserve Bank of India allowed banks and financial institutions to postpone EMI recovery of term loans for three months due to corona.
This post was published on May 22, 2020 9:14 am
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