11 Key Highlights of RBI Press Conference dt. 22.05.2020

11 Key Highlights of RBI Press Conference dt. 22.05.2020 RBI Governor Shaktikanta Das addressed the media at 10 am today post Finance Minist

CS Lalit Rajput

May 22, 2020

Last update on May 22, 2020

11 Key Highlights of RBI Press Conference dt. 22.05.2020 RBI Governor Shaktikanta Das addressed the media at 10 am today post Finance Minister gave details of the Rs 20 lakh crore economic relief package to help the economy recover from the coronavirus pandemic.

Key Highlights:

Repo rate reduced by 40 bps to 4%
Private consumption impacted most by COVID-19
Food inflation increased to 8.6% in April 2020
MPC says inflation to fall below 4% in Q3 and Q4 of 2020
GDP growth to remain in negative this year
gross domestic product will remain in negative territory this year with some pickup in pulses segment.
India's forex reserves increase by Rs 9.2 billion, stand at $ 487 billion, equivalent of 1 year of imports
Loan moratorium extended 31 August, 2020
Lending institutions are being permitted to restore the margins for working capital to the origin level by 31 March, 2021.
90 days extension to term loans offered to provide greater flexibility of SIDBI to provide additional liquidity support to the MSME sector
To manage importers' operative cycle, outward remittances against normal imports into India, is bought to 6 months from 12 months

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About Author

CS Lalit Rajput

Company Secretary

Lalit Rajput is a qualified Company Secretary and graduate with 5+ years’ experience in handling Secretarial and Compliance management. Working as Proprietor at Lalit Rajput &Associates, Company Secretaries and Compliance Head at EDUXGURU. Key areas include handling Compliances related to Secretarial, Start-ups, SEBI, FEMA, Labour Laws, GST, NCLT, IPR, MCA/ROC, RTA etc. He has started his career in Adventz Group with one of leading EPC Company, Kalindee Rail Nirman - A Div. Of Texmaco Rail & Engineering Limited (erstwhile known as Kalindee Rail Nirman (Engrs.) Ltd.) and after that worked with Outcome Solutions & Services LLP, a Risk Advisory firm and S. Srinivasan & Co.,Leading Company Secretaries firm in Mumbai and Chennai. He is also an active blogger/Author at many platform and has written various articles on: Taxguru, Compliance Calendar LLP, Studycafe, Caclubindia, Casansaar, theTaxTalk, Lawyer’s Connect, IPleaders, Governance Professionals, Lawyers club India, Dealout Professionals and many more. He has also blogger at ENLIGHTEN GOVERNANCE and contributed articles in ICSI E-Corporate Manager published by ICSI Ahmadabad Chapter.