10 key takeaways from RBI Governor Shaktikanta Das' press conference

The Reserve Bank of India Governor Shaktikanta Das held a press conference on Friday, his third in two months, and has announced a slew of measures to combat the pandemic that is slowing down the economy. 

Here are the top five key takeaways from the presser: 

• Repo rate cut by 40 basis points, Repo rate down to 4% from 4.4%

• GDP Growth in 2020 to Remain in Negative in 2021

• Volume of world trade can shrink by 13-32 per cent this year

• Headline inflation may remain firm in the first half, but will ease out in the second half

• Agricultural sector has offered a ray of hope 

• The biggest blow came from private consumption slump with consumer durables production falling 33 percent in March 2020

• RBI Governor says India seeing collapse of demand; electricity, dip in petroleum product consumption; fall in private consumption

• Group exposure limit for lenders to corporate raised to 30% from 25%

• RBI increases export credit period to 15 months from 1 year 

• RBI governor concluded the presser saying the top bank is vigilant and ready to do whatever it takes to tackle the unknown future