Thread by @CNBCTV18Live

#RBIActs ! @RBI CUTS REPO RATE BY 75 bps

#RBIActs | RBI’ MPC voted 4:2 to reduce policy repo rate by 75 bps to 4.4% & Reverse Repo rate cut by 90 bps to 4%

#RBIActs | @RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic

#RBIActs | Reverse Repo Cut more so that banks are incentivised to lend, disincentivised to hoard money

#RBIActs | Need conventional, unconventional measures to combat virus, says @RBI Governor @DasShaktikanta

#RBIActs | There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection, says @DasShaktikanta

#RBIActs | MPC decides to refrain from growth & inflation targets, given the uncertainty, @DasShaktikanta

#RBIActs | Need of the hour is to shield domestic economy from #COVID19 pandemic, @DasShaktikanta

#RBIActs | Growth worries could be reduced if #COVID19 spread is contained, @DasShaktikanta

#RBIActs | Collapse in food prices could work towards easing food price pressures, says @DasShaktikanta

#RBIActs | Appropriate that MPC decisions and other @RBI actions must be seen as a comprehensive package with force multipliers, says @DasShaktikanta

#RBIActs | Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital, @DasShaktikanta

#RBIActs | Multi-pronged approach adopted to ease #COVID19 related liquidity constraints, @DasShaktikanta

#RBIActs | Target long-term repo operation (LTRO). Large sell-offs in markets have intensified pressure. RBI will conduct LTRO of up to 3-yr tenor of upto Rs 1 lk cr at floating rate linked to policy repo rate, @DasShaktikanta

#RBIActs | First auction of Rs 25,000 cr will be conducted later today, @DasShaktikanta

#RBIActs | CASH RESERVE RATIO CUT BY 100 bps TO 3%

#RBIActs | CRR cut will release Rs 1.37 lk cr into market, says @DasShaktikanta

#RBIActs | Liquidity infusion of Rs 3.74 lakh cr via the three steps announcement - LTRO, CRR and MSF, @DasShaktikanta

#RBIActs | Reduce maintenance of daily CRR balance from 90% to 80%

#RBIActs | All Banks, lending institutions may allow a 3-month moratorium on all loans, @DasShaktikanta

#RBIActs | Lending institutions, banks, allowed to defer interest on working capital repayments by 3 months, @DasShaktikanta

#RBIActs | Moratorium on term loans, deferment of interest payment will not result in asset classification downgrade, @DasShaktikanta

#RBIActs | Banks may reassess working capital Cycle, won’t be treated as NPA, @DasShaktikanta

#RBIActs | Deferring NSFR implementation by banks by 6 months, @DasShaktikanta

#RBIActs | Last tranche of capital conservation buffer postponed, @DasShaktikanta

#RBIActs | NDF market has been growing rapidly; bank allowed to deal in NDF market, @DasShaktikanta

RBIActs | @RBI has injected liquidity of Rs 2.8 lakh cr via various instruments equal to 1.4% of GDP since the last policy in February, @DasShaktikanta

#RBIActs | Indian Banking system is safe and sound. Depositors of commercial banks including pvt banks need not worry on the safety of their funds, @DasShaktikanta

#RBIActs | Do not resort to panic withdrawal of deposits from pvt banks, your money is safe, @DasShaktikanta