Measures taken by Reserve Bank of India
Measures taken by Reserve Bank of India
• Reduction of Cash Reserve Ratio (CRR) has resulted in
liquidity enhancement of ₹1,37,000 crores
• Targeted Long Term Repo Operations (TLTROs) of
₹1,00,050 crore for fresh deployment in investment grade
corporate bonds, commercial paper, and non-convertible
debentures.
• TLTRO of Rs.50,000 crore for investing them in investment
grade bonds, commercial paper, and non-convertible
debentures of NBFCs, and MFIs.
• Increased the banks’ limit for borrowing overnight under the
marginal standing facility (MSF), allowing the banking system
to avail an additional ₹1,37,000 crore of liquidity at the
reduced MSF rate.
• Announced special refinance facilities to NABARD, SIDBI and
the NHB for a total amount of ₹50,000 crore at the policy repo rate.
• Announced the opening of a special liquidity facility (SLF) of
₹50,000 crore for mutual funds to alleviate intensified liquidity
pressures.
• Moratorium of three months on payment of instalments and
payment of Interest on Working Capital Facilities in respect of all
Term Loans.
• Easing of Working Capital Financing by reducing margins.
• For loans by NBFCs to commercial real estate sector, additional
time of one year has been given for extension of the date for
commencement for commercial operations (DCCO).
Other Measures - 1
• On the request of the Government of India, RBI raised
the Ways and Means advance limits of States by 60%
and enhanced the Overdraft duration limits.
• Issued all the pending income-tax refunds up to ₹5
lakh, immediately benefiting around 14 lakh taxpayers.
• Implemented “Special Refund and Drawback Disposal
Drive” for all pending refund and drawback claims.
• Both the above measures amount to ₹18,000 crore of
refund.
• Sanctioned Rs 15,000 crores for Emergency Health
Response Package
Other Measures – 2
• Provided Relaxation in Statutory and Compliance matters,
such as –
• Extending last date for Income Tax Returns to June 30,
2020
• Extending filing GST returns to end of June 2020
• 24*7 custom clearance till 30th June, 2020
• Relaxation for 3 months for debit cardholders to withdraw
cash free from any ATMs, etc
• Allowing payment before 15 May, 2020 for Motor
Vehicle and Health Insurance Policies
• Mandatory Board meetings extended by 60 days till 30
September
• Allowing Extraordinary General Meetings through Video
Conference with e-voting/simplified voting facility
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