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RBI announces Rs.50,000 crore booster package for industries

RBI announces Rs.50,000 crore booster package for industries

Amidst the steep fall in the rupee and the continuing volatility in other segments of the financial market, the Reserve Bank of India on 17 April announced several regulatory measures. 

RBI Governor Shaktikanta Das announced to slash the reverse repo rate from 4% to 3.75% while keeping the repo rate unchanged. 

He also announced a 50,000 crore rupees booster package for small and medium-sized industries to recover from the lockdown.

The RBI Governor declared that the period of resolution plan for NPAs will be extended by 90 days and the loans given by NBFCs to real estate companies will get similar benefit as given by the scheduled commercial banks

Mr Das also said that India's growth rate is expected to be highest among G20 nations, as per IMF estimates.

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