Govt revenues have been impacted severely due to slowdown in economic activity amid COVID-19 outbreak.
Mumbai:
RBI Governor Shaktikanta Das addressed a press conference on Friday, about several measures to ease liquidity pressure in the banking system and to boost the economy.
Inflation outlook highly uncertain; elevated level of inflation in pulses worrisome, requires review of import duties .
Headline inflation may remain firm in first half of yr; ease in second half, falling below 4% in Q3/Q4 of FY21 GDP growth in 2020-21 to be in negative territory.
Combination of fiscal, monetary and administrative actions will create conditions for revival of economy in 2nd half of FY21 RBI to roll over Rs 15,000-cr refinance facility for SIDBI for 90 days.
RBI increases export credit period to 15 months from 1 yr and Rs 15,000-cr line of credit to EXIM Bank.
RBI extends moratorium on loan repayments by three more months in view of COVID-19 Group exposure limit for lenders to corporates raised to 30% from 25%.