Thursday, April 16, 2020

1.9% GDP growth for India highest in G20: RBI

RBI governor Shaktikanta Das briefs the media: Further updates:
-- IMF projection of 1.9% GDP growth for India is highest in G20
-- RBI to announce new measures to maintain adequate liquidity in system, facilitate bank credit flow, ease financial stress.
-- Contraction in exports in March at 34.6% much more severe than global financial crisis of 2008-09,Surplus liquidity in banking system has increased substantially as result of central bank actions.
-- No downtime of internet or mobile banking during lockdown; banking operations normal.
-- Impact of Covid-19 not captured in IIP data for February. 
-- Automobile production, sales declined sharply in March; electricity demand has fallen sharply.
-- India is expected to post sharp turnround in 2021-22, says RBI Governor quoting IMF projection.

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