New Delhi: The Reserve Bank has given a big relief in the Corona period. The repo rate has been reduced by 0.4 percent to 4 percent. With this decision of RBI, the loan will be cheaper and inflation has been expected to be reduced. However, the Reserve Bank has said for the first time that the country's economic growth rate may remain negative in 2020-21.
Reserve Bank of India Governor Shaktikanta Das announced a cut in the repo rate. The interest rate at which short-term loans are provided to commercial banks by the central bank is called repo rate. RBI Governor Corona was addressing a press conference on the measures taken to revive the country's economy from the crisis. This is the third time the governor of the central bank was holding a press conference on relief measures during the period of lockdown to deal with Corona. Earlier, on 17 April and 27 March, he announced relief measures for the Corona crisis.
Highlights of RBI Governor's press conference
* Reserve Bank of India Governor Shaktikanta Das said that the growth rate in 2021 is likely to be negative. He said that India's foreign exchange reserves increased by 9.2 billion dollars in 2020-21 (from 1 April). India's foreign exchange reserves so far (as of May 15) are 487 billion dollars.
* The output of core industries has decreased by 6.5% and manufacturing has fallen by 21%. There has been a 17% decrease in industrial production in March. Demand and production have decreased. Exports declined by 60.3% in April.
* Shaktikanta Das said that the repo rate decreased from 4.4% to 4%. The reverse repo rate came down to 3.35%. Due to Corona virus, there has been a big loss to the economy. The MPC has decided to cut the repo rate.
* RBI has extended the loan moratorium of banks for 3 months and now its period has been extended till 31 August. That is, customers have got the facility of EMI and postponement of their loan for three months.
* The main inflation rate may remain sharp in the first half, it will moderate in the second half, it may remain below four percent in the third / fourth quarter of FY 2020-21.
* RBI Governor said that demand in India is declining, electricity, petroleum product consumption decline, private consumption decline.
* RBI Governor Das said that the government's revenue has been badly affected due to sluggish economic activity amid the outbreak of Covid-19. The situation of inflation is very uncertain, the huge increase in the prices of pulses is worrying, the import duty needs to be reviewed.
On Saturday, America's B-2 bombers took off from Missouri and entered Iran's airspace after a jou
Nandamuri Balakrishna remains in the discussion about his upcoming films. Everyone is waiting for
US President Trump, who imposed tariffs on India for buying oil from Russia, is now getting surro
Akhilesh Yadav is adamant on the demand for DNA tests in the Ayodhya rape case. At the same time,
Oil companies have released the prices of petrol and diesel for today. Today companies have not m
After the lock of the temple which was closed for the last 46 years in the Muslim-dominated area
The EdTech sector in India emerged as the most funded sector in the year 2021. According to a rep
High voltage drama was seen in the ongoing day-night test between India and Australia in Adelaide
A case has been registered against those who offer Namaz at Lulu Mall in Sushant Golf City. The p
Delhi NCR Rain: Weather turned in Delhi-NCR, rains and strong winds at midnight
Delhi NCR received rain with strong winds on Monday (October 06, 2025). Earlier, the Meteorologic
