The confirmed cases due to COVID-19 in India stands at 13,387 while the death toll is at 437. Let’s tune into the Press Conference of the Health Ministry to know the latest updates on the Coronavirus crisis.
Earlier in the day, the Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will use all instruments at its disposal to deal with the challenges posed by the outbreak of the coronavirus, and announced several measures to take the pressure off the economy.
Providing relaxation to lenders, the RBI said the country’s banks will be exempted from making dividend payments in order to ensure adequate liquidity in the system. It also slashed the reverse repo rate – the rate at which banks park their fund with the central bank – by 25 basis points to 3.75 percent, to encourage banks to lend to the productive sectors of the economy.
Providing relaxation to lenders, the RBI said the country’s banks will be exempted from making dividend payments in order to ensure adequate liquidity in the system. It also slashed the reverse repo rate – the rate at which banks park their fund with the central bank – by 25 basis points to 3.75 percent, to encourage banks to lend to the productive sectors of the economy.
Source: Yourstory
