Reserve Bank Governor Shaktikanta Das will meet with the heads of banks today to take stock of the financial sector situation and discuss steps to be taken to boost the industry amid the crisis caused by the corona virus epidemic. Sources gave information about this.
In this meeting, the implementation of several measures announced by RBI will be reviewed. These include amendments in the interest rate and its benefits to the consumers as well as measures taken to infuse cash to help the industry.
Measures taken to help small and medium industries and rural areas, which are facing the crisis, will also be reviewed in this meeting. Meanwhile, the government announced on Friday to extend the lockdown for two more weeks from May 4.
However, restrictions have been relaxed for areas and districts free of infection.
The Ministry of Home Affairs issued new guidelines to regulate activities during extended lockdowns on the basis of risk in red, orange and green areas.
The Reserve Bank has announced several steps to ease the pressure from lenders, lenders and other institutions including mutual funds and has promised additional initiatives if needed.
The RBI has injected cash equivalent to 3.2 percent of GDP after the February 2020 monetary policy meeting to deal with the cash situation.
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