Reaction to Measures announced by RBI on 27.03.2020 By MD and CEO Punjab National Bank Shri CH.S.S. Mallikarjuna Rao.
"Today RBI's decision has been
very bold in terms of addressing current challenges faced by the
economy. All the measures taken, whether Repo rate reduction, CRR cut,
TLTRO, moratorium on repayments, infusion of liquidity,
etc have been unprecedented and in right context.
The 3 month moratorium on all
term loan installments along with deferment of interest on working
capital will help mitigate the debt servicing burden due to covid 19
disruption and prevent transmission of financial stress
among various sectors of the economy.
 |
| MD and CEO Punjab National Bank CH.S.S. Mallikarjuna Rao |
Total liquidity injection of RS
3.74 lakh crore through TLTRO, CRR & MSF will address the liquidity
stress in view of highly volatile financial markets. Considering the
potential stress, the last tranche of 0.625 percent
of CCB has also been deferred to Sept' 30 2020.
However challenges remain in
terms of transmitting these measures to customers amid social
distancing. Effective digital and electronic delivery to the last mile
will remain the key issue."
No comments:
Post a Comment