RBI Asks Banks Not To Declare The Dividends Until Further Notice:- Shaktikanta Das, the Governor of Reserve Bank of India addressed the media for the second time after coronavirus lockdown. Here are the highlights of his speech:

As there are number of challenges in the resolutions of the accounts, the period is increased by 90 days.

The banks should not declare the dividends until further notice.

The LCR requirement of commercial banks is brought down to 80% from 100%.

Inflation will settle below the target of 4% by H1FY21. RBI will monitor the situation continuously for the challenges posed by coronavirus.

Long term repo operations (TLTRO) worth Rs 50,000 crore target will begin soon.

All the funds that are availed by the banks should be invested in investment-grade bonds.

Though India will suffer now, it is expected to bounce back sharply in FY2022.

The reverse repo rate is reduced to 3.75% from 4 percent.

The average loan ticket size of Rs 31,000 crore. The outstanding loans to the entire NBFG sector of banks are at Rs 7 lakh crores.