Governor Shaktikanta Das’ latest policy statement sees FY21 growth contracting by 9.5%, but also talks about the possibility of India renewing the “tryst with its pre-Covid growth trajectory”.
Monetary policy committee keeps rates unchanged; central bank announces new measures to mitigate pandemic woes, as it sees 9.5% contraction in real GDP for FY21.
Franklin Templeton India has closed six yield-oriented schemes—which accounted for 63.4% of its total debt-oriented funds’ average AUM. It links the closure to Covid-19-related market dislocations.
Round II of RBI’s Covid-19 crisis measures was received by the Sensex and the Nifty 50 gaining 1,116 and 331 points each before closing 986 and 273 points higher from the previous day’s close.
A ₹1-lakh crore liquidity window, reduction in reverse repo rate, support for NBFCs, and relaxation of NPA classification norms are ways in which the RBI wants to keep the economic wheel turning.
