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RBI Governor: Economic activity came to a standstill during the lockdown

After the extension of the nationwide lockdown till May 3, Reserve Bank of India (RBI) Governor Shaktikanta Das made some important announcements at 10 am today. RBI has taken some fresh measures to boost the economy towards recovery after the great loss faced due to nation-wide lockdown. Das also announced that there will be a reduction of fixed reverse repo rate under liquidity adjustment facility (LAF) by 25 basis points from 4% to 3.75%, with immediate effect. The 90-day NPA norm will not be applied to moratorium granted on existing loans by banks. RBI Governor also announced a Rs. 50,000 crore booster package for small and medium-sized industries to recover from the lockdown.

Read More – Deccan Herald | Jagran | Zee News | Times of India | Hindustan Times

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Akshay Washindkar
23, Aspiring Actor, Screenplay Writer, Filmmaker, Content Writer @Headline English.

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