new Delhi : During video conferencing from SBI’s Rajneesh Kumar at the seventh SBI Banking and Economics Conclave rbi Governor Shaktikanta Das (Reserve Bank of India GOVERNOR SHAKTIKANT DAS) called Corona the worst economic and health crisis of the last 100 years. He said that coronavirus ( COVID-19 ) Has not only reduced the current economic system, labor and capital movements around the world, but also directly impacted the production negatively.
Indian economy is coming back on track
Along with this, RBI GOVERNOR said that “With the removal of Corona Lockdown, the signs of Indian economy returning to normalcy have started showing.” However, the RBI’s policy steps have to carefully assess what the crisis takes. “Praising the industry, he said that” Indian companies and industries did better in the Corona crisis. There is a need for a statutory empowered structural system to deal with property trapped under pressure.
Although they did coronavirus ) Because of the increase in the NPA, but he says that development is our first priority, financial stability is equally important. The RBI has strengthened its offsite monitoring mechanism to identify emerging risks.
Steps taken by RBI Since February 2019, the Reserve Bank has reduced the overall repo rate by about 135 basis points. This was done primarily to deal with the decline in growth. In addition, the Monetary Policy has decided to cut the repo rate by up to 115 basis points by the Reserve Bank of India. In this way, the total reduction in the repo rate from February 2019 to the coming time will be 250 basis points.