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Sep 16, 2020

RBI assures industry of taking all necessary measures to ensure liquidity in system & promote economic growth

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Reserve Bank of India Governor Shaktikanta Das today assured the industry that the Central Bank will take all necessary measures to ensure liquidity in the system and promote economic growth.
Delivering a key-note address to the members of Federation of Indian Chambers of Commerce and Industry (FICCI) at a webinar, he said, the economic recovery has not fully entrenched.
He said, the recovery is likely to be gradual as efforts towards reopening of the economy are confronted with increasing infections.
Mr. Das said, financial market conditions in India have significantly eased across segments in response to front-loaded cut in policy repo rate by the RBI.
He underlined that the bank investments in commercial papers, bonds, debentures and shares of corporate bodies from April to August 2020 has increased by Rs. 5,615 crore.
In his address, Mr Das spoke about the initiatives taken by the Central Bank to ease the liquidity situation and make available funds to the businesses impacted by the pandemic and subsequent lockdowns.
The Governor also assured the industry that RBI is carefully monitoring the evolving economic scenario and is battle ready to help the industry and businesses to come out of the COVID-19-induced crisis. 

He also said that the current crisis have opened up avenues to new global players.

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