UncategorizedRBI Announcement in Covid-19 Phase in India

March 27, 20200
RBI Announcement in Covid-19 Phase – A Bold Move
The Governor of Reserve Bank of India on 27th March,2020 has declared various economic reforms to bring stability and liquidity in Indian economy and to sustain businesses at large.
The reduction of repo rate by 0.75% to make it 4.40% may bring stability and support to the economy.
The CRR for banks has been reduced by 1% and shall be implemented for one year. LAF will be at 4%.
Banks with IFSC banking units are allowed to participate in offshore INR NDF market w.e.f. June 1, 2020.
A moratorium of 3 months for Banks & NBFCs also declared on term loans. Such deferment will not to be considered for NPA.The accumulated payment will be done after this period.
Various deferment measures on working capital will be equally supportive.
There shall be total liquidity injection of 3.4% of GDP.
To know more on its implications feel free to connect on covid19@amlegals.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

Current day month ye@r *

© 2020-21 AMLEGALS Law Firm in Ahmedabad, Mumbai, Kolkata, New Delhi, Bengaluru for IBC, GST, Arbitration, Contract, Due Diligence, Corporate Laws, IPR, White Collar Crime, Litigation & Startup Advisory, Legal Advisory.


Disclaimer & Confirmation As per the rules of the Bar Council of India, law firms are not permitted to solicit work and advertise. By clicking on the “I AGREE” button below, user acknowledges the following:
    • there has been no advertisements, personal communication, solicitation, invitation or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
    • user wishes to gain more information about AMLEGALS and its attorneys for his/her own information and use;
  • the information about us is provided to the user on his/her specific request and any information obtained or materials downloaded from this website is completely at their own volition and any transmission, receipt or use of this site does not create any lawyer-client relationship; and that
  • We are not responsible for any reliance that a user places on such information and shall not be liable for any loss or damage caused due to any inaccuracy in or exclusion of any information, or its interpretation thereof.
However, the user is advised to confirm the veracity of the same from independent and expert sources.