Overview : RBI Governor Announcement on 17.04.2020 -luxefinalyzer<br>
RBI Governor Announcement Today*
1. Positive Growth in GDP by 1.9% in comparision to any other country of the world.
2. Kharif Crop Production have increased by 33% in comparison to Last Year. Which is a great Achievement.
3. IMF Has Projected a Growth rate of 7.4% in 2021-22.
4. Forex reserve of india is 476Bn $ as on 10th April.
5. Fresh Currency of 1.4 Lakh Cr has been issued to Banks from Mar to April 12 so that no ATM go Dry
6. Fresh TLTRO-2.0- For 50K Cr To begin With. Min 50% Of flow should go to small NBFC and FII.
Refinance Facility will be given to - NABARD, SIDBI, NHB- These FI help
NBFC. 25K To Nabard, 15K to SIDBI, 10K to NHB. Rate of interest on such
loan will be 4.4%
8. LAF- Liquidity Adjustment Facility- Reverse repo rate reduced by 0.25%.
9. For NPA Classification Period of 01-03-2020 to 31-05-2020 will be excluded.
10. Insolvency Resolution which have not been resolved then on all such loan of NPA-20% Additional Provision has to be created
11. Distribution of Dividend- NBFC and Banks cannot announce any Further dividend for 31-03-2020 till further order.
12. LCR- Reduced from 100% to 80%.
NBFC Loan to Commercial Realestate Projects- Delay of 1 Yrs extension
allowed. And banks will be allowed to do the reschedule the loans