Covid-19 relief: Here are the steps taken by the RBI to fight slowdown

On Friday, RBI Governor Shaktikanta Das addressed the media for the second time since the nationwide lockdown was imposed on March 25. Among other important announcements, he announced a reduction in reverse repo rate by 25 basis points from 4 per cent earlier to 3.75 per cent now.

Here’s a look at key announcements, RBI Governor Das made in today’s media address.
 

Governor Das started with the macroeconomic situation and mentioned that it has worsened since he last spoke.
 

However, he did mention some improvement in the situation and talked about IMF’s data according to which India is among the very few countries which are likely to tenuously stick to 1.9 per cent GDP growth.
 

Besides, India is expected to stage a smart recovery to grow at pre-coronavirus pace of 7.4 per cent in FY22 according to IMF.

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