The storm of the pandemic of COVID-19 has hindered many services around the nation. It has entrapped every individual and government organizations in its knitted net. Even the RBI is helpless and has taken many crucial decisions in the past week.
The RBI has further regulated its EMI monitoring on Wednesday to deal with the economic crisis that the entire nation is facing. Earlier it has slashed the bank rates to loosen up the liquidity pressure. Here are the additions that are made by the RBI on Wednesday:
- Increase in the Limits of Ways and Means Advances for States and Union Territories: RBI has increased the Ways and Means limit by 30%. The altered rates will come into force from April 1, 2020, and will be valid till September 30, 2020.
- Liberty on the realization period of exports proceeds for the next 6 months: Due to the massive disruption by the COVID-19, the realization period has been extended to 15 months from the current period of 9 months. This will benefit the exporters to realize the receipt and manage the upcoming contracts with foreign buyers across the globe.
- Deferring the enforcement of countercyclical capital buffer for the next 12 months: RBI has also adjourned the implementation of CCyB or Countercyclical Buffer until the following year. This strategy embarks the credit-to-GDP gap as the indicator, which further indicates other supplements.
- The Hot Mess that is Bhola (Bhola Film Review)
- The US Govt. Urges Americans in Russia to Leave the Country Immediately
- Amit Shah Talks About How CBI Pressured Him
- Priyanka Chopra Talks About Why She Moved to Hollywood
- Best Natural Steroid Alternatives in 2023
