Key Highlights Of Reserve Bank of India (RBI) Governor Shaktikanta Das Press Conference
Repo rate cut by 40 basis points from 4.4 % to 4%. Reverse repo rate stands reduced to 3.35%.
Manufacturing activity down by 21% as,Industrial production shrank by close to 17% in March thus the output of core industries contracts by 6.5%.
There is an increase of 3.7% in food grain production, which has helped to cope up in the crisis period.
Foreign exchange reserves stand at 487 billion US dollars, it increased by 9.2 billion during 2020-21 from 1st April on wards, So far, up to 15th May.
The growth factor GDP still remain in negative category.
India’s foreign exchange reserves increased by 9.2 billion dollars in 2020-21. India’s foreign exchange reserves currently stand at $ 487 billion.
Four types of measures announced in four categories:
To improve functioning of markets.
To support exports&imports.
Relief on debt servicing&better access to working capital&to ease financial constraints faced by state govt.
Three-month moratorium allowed on term loans & working capitals we allowed certain relaxations.
These measures are being further extended by another 3 months from June 1 to Aug 31.
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