RBI on covid-19

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Reserve Bank of India (RBI) is helping commercial banks and also supporting the Indian government. 
 
 
RBI infused oxygen into the financial system which is been announced by the RBI Governor Mr. Shaktikant Das on Friday i.e. to combat the lockdown impact on economy. The decision is taken because to maintain the liquidity in the economy by the continuous flow of cash in all the sectors. 
Announcements made by the RBI are:
  • The RBI has decreased the Reverse Repo Rate (RRP) by 0.25%.
  • The RBI has provided ₹50,000 crores to the commercial bank by targeted long term repo operation aiming to support MSME. 
  • Dividend is not to be paid by the general public to bank. 
  • Refinancing facility is been extended to ₹50,000 crores to NABARD, NHB, etc. 
RBI has taken a great decision that banks should not invest money in purchasing the bonds of PSUs, they have to provide loan to MSMEs or Micro Financing Institutions. These all the decisions are taken by RBI to revive the economy of India. 

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