RBI Offers ₹3.7-trn Covid Vaccine
Business Standard|March 28, 2020
The Reserve Bank of India (RBI) on Friday came out all guns blazing to arrest a poten- tial slowdown caused by coronavirus (COVID-19), lowering the policy repo rate by 75 basis points to 4.4 per cent, and telling all banks and housing finance companies not to take instalments on term loans for three months.
Anup Roy

The RBI also pumped %3.74 trillion of additional liquidity into the banking system through various policy measures.

“Given the COVID-19 stress, the six-member monetary policy committee (MPC) advanced their March 31-April 3 meetings to March 24, 26 and 27, and voted 4:2 to cut the policy repo rate to 4.4 per cent,” said Reserve Bank of India Governor Shaktikanta Das, who addressed the media through video streaming.

Its stance was Kept accommodative.

Continue reading your story on the app

Continue reading your story in the newspaper

MORE STORIES FROM BUSINESS STANDARDView All

Deadline To Link Pan-Aadhaar Extended To Jun 30

The government on Wednesday extended the deadline for linking PAN with Aadhaar by three months till June 30.

1 min read
Business Standard
April 01, 2021

Indian start-up debuts on global quantum computing stage

An Indian company called QNu Labs aims to be a global player in the futuristic field of quantum computing, after becoming the world’s fourth company to build a deployable “Quantum-Safe Security” product.

3 mins read
Business Standard
March 29, 2020

US Passes Historic $2.2-Trillion Coronavirus Relief Bill

The U.S. House of Representatives on Friday approved a $2.2 trillion (£1.77 trillion) aid package — the largest in history — to help cope with the economic downturn inflicted by the intensifying coronavirus pandemic, and President Donald Trump quickly signed it into law.

3 mins read
Business Standard
March 29, 2020

Coronavirus Symptoms Similar To Heart Attacks In Patients

The 64-year-old patient arrived at a hospital in Brooklyn with symptoms looking like those seen in patients having a serious heart attack.

2 mins read
Business Standard
March 29, 2020

Test That Can Detect Coronavirus In 5 Minutes

Abbott to supply 50,000 tests a day starting April1

2 mins read
Business Standard
March 29, 2020

Clearly, We've Entered Recession That Will Be Worse Than 2009: IMF Chief

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva (pictured) said Friday.

1 min read
Business Standard
March 28, 2020

India Prepares For Massive Screening Effort After April 14

India, which is under the largest lockdown in the world, is readying to undertake a massive testing programme to identify COVID-19-positive cases after the 21-day period ends in a move that public health experts have been calling for.

3 mins read
Business Standard
March 28, 2020

RBI Offers ₹3.7-trn Covid Vaccine

The Reserve Bank of India (RBI) on Friday came out all guns blazing to arrest a poten- tial slowdown caused by coronavirus (COVID-19), lowering the policy repo rate by 75 basis points to 4.4 per cent, and telling all banks and housing finance companies not to take instalments on term loans for three months.

1 min read
Business Standard
March 28, 2020

Relief Measures May Not Reach Everyone

Delivery mechanisms need to be strengthened: Experts

3 mins read
Business Standard
March 27, 2020

Centre's EPF Scheme To Cover Only 16% Of Total Subscribers

PF account holders can withdraw up to three months of contribution during pandemic

2 mins read
Business Standard
March 27, 2020
RELATED STORIES

India's Stressed Banks

“This is the classic crisis of confidence”

4 mins read
Bloomberg Businessweek
November 04, 2019

India Is The Latest To Meddle In Its Central Bank's Affairs

The autonomy of India’s central bank is under threat.

4 mins read
Bloomberg Businessweek
November 26, 2018

टर्मिनोलॉजी

फिएट करेंसीभारतीय रिजर्व बैंक (आरबीआई) ने 25 जनवरी, 2021 को कहा कि यह दुनिया के विभिन्न हिस्सों में आभासी (वर्चुअल) मुद्राओं की बढ़ती लोकप्रियता के बीच फिएट मुद्रा (Fiat Currency) के एक डिजिटल संस्करण की संभावना तलाशने पर वह विचार कर रहा है। उल्लेखनीय है कि फिएट करेंसी या फिएट मनी सरकार द्वारा जारी की गई मुद्रा है जो सोने जैसी कमोडिटी द्वारा समर्थित नहीं होती है।

1 min read
Bhugol aur Aap
February - March 2021

Exiting The Easy Money Circle

The RBI Adopted multiple regulatory forbearance measures and ultra-loose monetary policy to counter economic headwinds. Now it has to work out an exit roadmap

10+ mins read
Business Today
May 02, 2021

अर्थव्यवस्था-डिजिटल इंडिया

न्यू अंब्रेला एंटीटी (एनयूई) भुगतान प्रणाली

1 min read
Bhugol aur Aap
April 2021

RBI CIRCULAR

Risk-Based Internal Audit (RBIA)

4 mins read
BANKING FINANCE
March 2021

Cheque clearance process all set to get faster thanks to CTS

To expedite the process of clearance of cheques, the RBI has announced bringing all bank branches under the Cheque Truncation System (CTS). Also, the apex bank wants to centralize the digital payment helpline to address consumer grievances.

2 mins read
BANKING FINANCE
March 2021

दरें स्थिर, बॉन्ड बाजार को मदद

आरबीआई रवरीदेगा 1 लारव करोड़ रुपये मूल्य के बॉन्ड, उदार मौद्रिक रुरव कायम

1 min read
Business Standard - Hindi
April 08, 2021

लहर के थपेडों से बचने की तैयारी

महामारी के एक साल बाद कारोबार तत्परता के साथ उबर रहे हैं लेकिन एक बार फिर गंभीर रूप से इम्तिहान से गुजरेंगे क्योंकि भारत कोविड-19 की दूसरी लहर से जूझ रहा है

1 min read
India Today Hindi
April 14, 2021

कोविड बढ़ने से मौद्रिक समीक्षा में नीतिगत दरों को यथावत रख सकता है रिजर्व बैंक : विशेषज्ञ

कोविड-19 संक्रमण के मामलों में अचानक आई तेजी के बीच भारतीय रिजर्व बैंक की मौद्रिक नीति समिति (एमपीसी) की तीन दिन की बैठक सोमवार यानी पांच अप्रैल से शुरू हो रही है। साथ ही सरकार ने केंद्रीय बैंक को खुदरा मुद्रास्फीति को चार प्रतिशत के दायरे में रखने का लक्ष्य दिया है। ऐसे में विशेषज्ञों का मानना है कि रिजर्व बैंक मौद्रिक समीक्षा में नीतिगत दरों को यथावत रख सकता है।

1 min read
Samagya
April 05, 2021