Thread by @PIB_India

LIVE Now: Address by #RBI Governor

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Aggregate supply conditions are underpinned by resilience of the agricultural sector, the record footprint productions and buffer stocks in 2021 provide food security and support to the other sector of the economy: RBI Governor, @DasShaktikanta

With restrictions & containment measures being localised and targeted, businesses & households are learning to adapt. Everybody has learnt how to survive & do business in an environment of containment.

- #RBI Governor, @DasShaktikanta

High Frequency Food Prices Data for April 2021 from @jagograhakjago suggest:

✅Further softening of prices of cereals & key vegetables
✅Price pressure in pulses & edible oils remain
✅Petrol & diesel price registered some moderation in April

- #RBI Governor, @DasShaktikanta

In our fight against second wave of #COVID19, we propose to take further measures:

✅Term Liquidity facility of Rs 50,000 crore to ease access to emergency health services
✅On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022

- @DasShaktikanta

Banks are being incentivized for quick delivery of credit under the scheme through extension of Priority Sector classification to such lending, and this facility will be available up to 31st March of 2022: #RBI Governor, @DasShaktikanta

Taking forward the initiative of @RBI for enhancing customer convenience, certain components of KYC norms are being rationalised:

✅Extending the scope of video KYC for a new category of customers like proprietorship firms, authorized signatories

-@DasShaktikanta

To ensure that financial conditions remain congenial and markets continue to work efficiently we will work in close coordination with the government: #RBI Governor, @DasShaktikanta