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Rescue acts, growth measures dominate RBI's platter in 2020; new inflation target awaited in new year


MUMBAI : Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI’s affirmation to do whatever was needed to combat the coronavirus impact.
On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das’ promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Within three weeks of launching the rescue act, the RBI’s rate setting panel’s meeting got advanced to deliver a deep cut of 0.70 per cent in key rates, a reduction in cash reserve ratio by 1 percentage point, and an announcement of a three-month repayment moratorium on loan repayments and an assured liquidity support through the Targeted Long Term Repo Operations (TLTROs). ....

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RBI: Rescue acts, growth measures dominate RBI's platter in 2020; new inflation target awaited in new year


Synopsis
Within three weeks of launching the rescue act, the RBI s rate setting panel s meeting got advanced to deliver a deep cut of 0.70 per cent in key rates, a reduction in cash reserve ratio by 1 percentage point, and an announcement of a three-month repayment moratorium on loan repayments and an assured liquidity support through the Targeted Long Term Repo Operations (TLTROs).
PTI
Mumbai: Delivering a public speech hours after the RBI launched a rescue act for
Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI s affirmation to do whatever was needed to combat the coronavirus impact.
On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event. ....

Urjit Patel , Shaktikanta Das , Uday Kotak , Bank On , Bombay High Court , Lakshmi Vilas Bank , Kotak Mahindra Bank , Monetary Policy Committee , World Health Organisation , Yes Bank , Governor Shaktikanta Das , Targeted Long Term Repo Operations , Consumer Price Inflation , Deputy Governor Viral Acharya , Mint Road , Finance Ministry , Lakshmi Vilas , Non Performing Assets , Bankruptcy Code , ஊடாய் கோட்டக் , வங்கி ஆன் , குண்டு உயர் நீதிமன்றம் , லட்சுமி விலாஸ் வங்கி , கோட்டக் மஹிந்திரா வங்கி , பண பாலிஸீ குழு , உலகம் ஆரோக்கியம் ஆர்கநைஸேஶந் ,

Fraught With Risks- Business News


Illustration by Raj Verma
What is common between Mercedes Benz and Volkswagen? Both are automakers, both are based in Germany. But few know that both also run banks. Mercedes Benz Bank and Volkswagen Bank are well-known brands in Germany. Similarly, UK-based supermarket chain TESCO has a bank and so does Richard Branson s Virgin Group, whose bank got merged with Clydesdale Bank last year.
All these are not big universal banks that dominate the system. The UK market has big global banks such as Barclay, Lloyds, HSBC and Standard Chartered. Similarly, banks run by the German automakers don t even figure within the top ten. There are also no instances of bad governance in these corporate-backed banks. Part of the reason could be the well-developed legal system in these economies. ....

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