Extreme risk aversion can be self-defeating: RBI Governor warns banks

Rather than becoming averse to lending, banks have to improve their risk management and governance frameworks, Das said

Need to conclude free trade agreements with US, others: RBI Governor

Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot

RBI Governor Shaktikanta Das extended the moratorium period by another three months from June 1 to August 31 due to lockdown extension

The agenda also included taking stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments

The governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period

Reserve Bank will remain vigilant and will not hesitate to use any instrument to mitigate the impact of Covid-19

Key rate cut by an unprecedented 75 pts

The central bank also reduced the cash reserve ratio of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year

Globaly economy growth expected to slow down due to Coronavirus

His comments come against the backdrop of concerns over growth of the economy, which has registered a spike in inflation