RBI PC LIVE: Governor Shaktikanta Das’s address at 10 am, more relief likely

Reserve Bank of India (RBI) governor Shaktikanta Das will be addressing a press conference at 10 am on Friday to announce fresh measures to tackle the coronavirus crisis. This will be the third such address by the RBI governor and comes just a week after the finance minister announced five tranches of the Rs 20 lakh crore economic relief package.

In the earlier press conference, Das announced a slew of monetary policy relief measures including a 75 bps repo rate cut and liquidity measures worth several lakh crores. RBI had also announced a 3-month moratorium on term loan payments.

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9:53 am: A cut in key repo and reverse repo rate may also be on the cards besides more liquidity measures to help smaller lenders.

9:50 am: Many industries and businesses have been appealing to the government and RBI to extend the loan moratorium by at least three more months as they have been hit hard by the prolonged lockdown.

9:48 am: Many have asked the RBI to extend the three-month moratorium on terms loans. Reserve Bank of India Governor Shaktikanta Das may extend the moratorium further apart from announcing changes in NPA reclassification.