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RBI unveils new measures Last Updated : 17 Apr 2020 05:17:19 PM IST RBI The RBI Governor on Friday announced a new set of measures in response to the current growth and financial market stress. These measures are mostly aimed at easing some pressures on the lower rated / smaller participants of the financial markets.
For the general bond and money markets, the major announcement pertains to a further widening of the liquidity adjustment facility corridor with the reverse repo rate being cut by a further 25 bps to 3.75 per cent. Repo rate (the mandate of the Monetary Policy Committee) and the marginal standing facility rate are kept constant. Ways and means advance (WMA) facility for states has been enhanced by 60 per cent (instead of the 30 per cent) announced earlier, available till September 30. Also, the liquidity coverage ratio (LCR) has been temporarily reduced to 80 per cent. Other measures are as follows:A new targeted long term repo (TLTRO) for Rs 50,000 crores has been announced directed at NBFCs. This has to be in investment grade instruments and 50 per cent has to be allocated to small and midsize NBFCs and MFIs. Deployment has to be within 1 month and the investment can be under additional held to maturity (HTM), as before. Also exposure will not count under the large exposure framework.All India financial institutions (FIs) NABARD, SIDBI, and NHB will get a cumulative special refinance facility for INR 50,000 crores at the RBI's repo rate.IANS New Delhi For Latest Updates Please-
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