Quote of Zarin Daruwala, CEO, India, Standard Chartered Bank on today’s RBI announcements

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Zarin Daruwala, CEO, India, Standard Chartered Bank
Zarin Daruwala, CEO, India, Standard Chartered Bank

April 17, 2020

Zarin Daruwala, CEO, India, Standard Chartered Bank, said, “Within a month, the RBI has delivered a second booster shot to the economy. RBI’s decisive measures have sent out a clear pro-growth message. The easing up of liquidity coverage ratio (LCR) to 80% till September end and the NPA relief during the moratorium period, will improve appetite for credit delivery. The targeted long term repo operations (TLTRO) for the NBFC sector should also help address their liquidity pressures. Ample system liquidity along with the widening of the interest rate corridor to 65bps, should continue to aid monetary transmission.”