RBI Governor Shanktikant Das Press Conference on 22nd May 2020

Highlights: 

• Term Loan Moratorium Extended another three months till 31st August 2020.
• RBI Reduces Repo Rate From 4.4% to 4%.
• The reduces interest rate will allow banks more room to lower the EMI burden for their borrowers.
• The RBI Flagged risks of a negative growth print this year.
• The Marginal Standing Facility (MSF) rate and the bank rate stand reduced to 4.25% from 4.65%.
• Group exposure limit for corporates raised to 30% from 25%.
• RBI has increased export credit period to 15 months from 1 year.
• RBI will extent ₹ 15000 crore line of credit to Exim Bank.
• India's Foreign Exchange Reserve have increased by 9.2 billion during 2020-21 from 1st April onwards. up to 15th May, foreign exchange reserve stand at 487 billion USD.
• GDP growth expected to remain in negative category.