Moratorium on Term Loans Extended by 3 Months till August : RBI Governor Shashikant Das
New Delhi : In his third press conference in two months, Reserve Bank of India (RBI) Governor Shaktikanta Das is addressing the media today i.e. on Friday. During this, Moratorium on term loans available till May 31, is now extended by another three months till August 2020, as RBI Governor Shaktikanta Das announces in his press conference on Friday. He also announced four policy decisions taken by the MPC to mitigate the impact of COVID-19. These include: measures to improve functioning of markets; investments by FPIs by voluntary retention route; support to exports and imports; extension of measures to ease financial stress.
RBI is at the Forefront to Meet COVID-Related Challenges
The RBI is at the forefront and will continue taking measures necessary to meet Covid-19 related challenges, says Governor Shaktikanta Das. “RBI will remain vigilant and use all its instruments and even fashion new ones to keep the financial system smoothly functioning, ensure access to all and to preserve financial stability.”
This was his third press conference in two months. His briefing came days after Union Finance Minister Nirmala Sitharaman held a series of five press conferences to announce details of India’s Rs 20 lakh crore economic package to cushion the impact of the coronavirus pandemic.