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RBI repo cut by 75 basis point, banks to allow 3-month moratorium on all loans

Today, Reserve Bank of India Governor Shaktikanta Das announced that RBI repo rate has been cut by 75 basis points. The repo rate stands at 4.20 per cent vs 5.15 per cent earlier. He also announced that all commercial banks and lending institutions will allow a three-month moratorium on all loans, because of the ongoing lockdown to contain Coronavirus. Das said banks should do all they can to keep credit flowing. Src: https://bit.ly/3dwLOcF

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I stand with @RBI

14 votes

I don’t

9 votes

RBI team working from a secret location to oversee financial operations: Report

According to reports, a 150-member team of the RBI is overseeing financial operations since March 19 from an unknown location in a quarantined environment amid coronavirus pandemic. The team includes 37 officials from critical departments of the RBI. The RBI has reportedly hired a hotel in the vicinity of the primary data center to accommodate the team. The aim is to keep RBI's IT infrastructure running so as to manage the payments system uninterrupted since nearly 14,000 RBI staffers are working from home. Src: https://bit.ly/2xaiOXD

Do you stand with @RBI

I stand with @RBI

9 votes

I don’t

10 votes

RBI assures depositors regarding safety of their deposits in banks

On its Twitter handle, the Reserve Bank of India (RBI) stated that concern has been raised in certain media sections about the protection of some banks' deposits. RBI further said this issue is based on flawed analysis. Banks' solvency is based on Capital to Risk (Weighted) Asset Ratio (CRAR) globally and not on market capitalization, it said. RBI included, "RBI closely monitors all the banks and hereby assures all depositors that there is no such concern of the safety of their deposits in any bank". Src: https://bit.ly/333Ewso

Do you stand with @RBI

I stand with @RBI

7 votes

I don’t

4 votes