Coronavirus Outbreak: Bankers welcome Reserve Bank's steps to enhance liquidity

The second set of measures announced by RBI for the COVID-19 pandemic-stricken economy got a thumbs-up from bankers who welcomed the steps taken as per the evolving market conditions

|Apr 17, 2020, 18:49:41 IST

Mumbai: The second set of measures announced by RBI for the COVID-19 pandemic-stricken economy got a thumbs-up from bankers who welcomed the steps taken as per the evolving market conditions.SBI Chairman Rajnish Kumar, who also heads industry lobby grouping IBA, called the measures, which included both regulatory as well as liquidity interventions, as "rightful recognition to the evolving market conditions" by RBI."Overall, the second set of the package by RBI is an excellent reflection of combining the policy response and regulatory responses in the most optimal manner," he said in a statement.[caption id="attachment_4111571" align="alignleft" width="380"]

File photo of SBI chairman Rajnish Kumar. News18[/caption]Kumar said the second set of targeted long term repo operations will help non-bank lenders and microlenders.He also welcomed the refinancing support for SIDBI, NHB and NABARD, saying deserving sectors will get help.Click here to follow LIVE updates on coronavirus outbreakBritish lender Standard Chartered Bank's country chief executive Zarin Daruwala called the announced measures the second booster shot to the economy from RBI within a month, and added that steps like reducing liquidity coverage ratio requirements and NPA relief during moratorium will improve credit delivery appetite.Padmaja Chunduru, the managing director and chief executive of the state-run Indian Bank, said RBI's tone is full of empathy and support to the needy sectors of the economy.Small businesses and retail borrowers will benefit through the 90-day extension in NPA recognition for stressed standard assets, while the 90-day extension given for NCLT filing in cases of bad loans will save banks 20 percent in provisions, she said.SBI chairman Kumar also said that allowing 90-day asset classification standstill for accounts covered under moratorium will "imbibe banks with the desired operational flexibility to lend a helping hand to stressed accounts".He also welcomed the decision to allow banks to conserve capital by restraining them from dividend payouts as a move which will aid in supporting the economy.

Stroke in young adults, silent symptoms and late diagnosis: India's growing brain health challenge

Neurologists warn that stroke is increasingly affecting people in their 30s and 40s, while many brain disorders progress silently before symptoms appear. They say early diagnosis, timely referrals and healthier lifestyles are key to reducing India's growing neurological disease burden.

5 min read

Brain tumours aren't always fatal, but delayed diagnosis can be: Experts explain the key warning signs

Brain tumours are frequently mistaken for common headaches, stress or age-related cognitive changes. Doctors say recognising warning signs early and adopting a brain-healthy lifestyle can improve outcomes and reduce the risk of long-term neurological complications.

2 min read

Spices, health and the Indian plate: Why chilli can be good for you—but moderation is still key

From boosting metabolism to supporting heart health, chillies offer several surprising health benefits. But experts say the amount you eat matters, and too much spice can do more harm than good.

4 min read

Organ donation: 5 myths you need to stop believing, according to a transplant specialist

Organ donation has the power to transform and save lives, but this can happen only when myths are replaced with facts. Building awareness, having open conversations and understanding the process can help families make informed decisions.

2 min read

Fish over meat: Why a pescatarian diet may help people with obesity live longer

A large UK study tracking over 150,000 adults with clinical obesity found pescatarians outlived regular meat-eaters, while vegetarians and vegans saw no similar benefit, but experts say the findings don't translate simply to Indian diets.