RBI says can't rule out any policy measure to counter coronavirus impact

RBI governor Shakikanta Das announces US dollar sell/buy swap and Long Term Repo Operation.

The Reserve Bank of India's monetary policy committee will decide if a rate cut is needed to help the economy facing the coronavirus outbreak, said governor Shaktikanta Das on Monday.

Das announced two policy measures to stabilise financial markets: a US dollar sell/buy swap on March 23 worth $2 billion and a Long Term Repo Operation in multiple tranches of up to Rs 1 trillion.

"The RBI will make efforts to see policy announcements have optimum impact and desired outcome," said Das at a press conference in Mumbai.

Das also said that private lender YES Bank will come out of