Post­-lockdown, India’s infection growth rate has slowed down

  • The Union Health Ministry on Friday said the doubling rate of positive COVID­-19 cases was now down to 6.2 days, compared to 3 before the nationwide lockdown that began on March 25.
  • The ICMR said there was no evidence suggesting that novel coronavirus is showing any signs of mutation.


India says IMF liquidity boost may be costly

  • Finance Minister Nirmala Sitharaman said on Thursday the country could not support a general allocation of new Special Drawing Rights (SDR) by the International Monetary Fund (IMF) because it might not be effective in easing COVID­-19­ driven financial pressures
  • Ms. Sitharaman said that she also was concerned that such a major liquidity injection could produce potentially costly side­effects if countries used the funds for “extraneous” purposes.


Salaried borrowers continue EMIs, ignore moratorium offer

  • The move was aimed at addressing the liquidity crunch faced by businesses and individuals due to the economic lockdown imposed to help contain the COVID­-19 pandemic
  • “About 85­-90% of businesses in the MSME sector have availed of the loan moratorium,”


RBI to pump in  ₹1 lakh crore

  • The Reserve Bank of India (RBI) on Friday announced a slew of liquidity measures to ease financial stress and increase credit flows, while indicating that more room was likely to emerge for reduction in interest rates as inflation softens.
  • The NBFCs(non­ banking finance companies) have experienced liquidity shortage since banks have not offered them any moratorium for repayment, while these entities have had to extend the moratorium option to their customers.
  • The RBI will extend another ₹50,000 crore to refinancing agencies like Nabard, Sidbi and National Housing Bank.


Moratorium period will not count for NPA purpose: RBI

  • The Reserve Bank of India (RBI) has prescribed higher provisioning norms for all loans where banks have extended moratorium to their customers, by 10%, spread over two quarters — January­-March and April­-June.