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RBI working on unconventional policies to combat coronavirus impact on economy: Reports

The federal bank’s statement came a day after the leading global bankers pledged to take appropriate action to support the economy.

RBI working on unconventional policies to combat coronavirus impact on economy: Reports

Reserve Bank of India (RBI). (File Photo: IANS)

Reserve Bank of India (RBI) is considering to use unconventional policy steps to boost lending, amid the rising fear that deadly coronavirus (COVID-19) will attack the reviving possibilities of the economy, reports on Wednesday stated.

As per a report filed by Reuters, the country’s central bank is planning “to infuse fresh cash liquidity into the system through the second round of long-term repo operations (LTRO).”

RBI on Tuesday had said that it is “monitoring global and domestic developments closely and continuously and stands ready to take appropriate actions to ensure the orderly functioning of financial markets, maintain market confidence and preserve financial stability.”

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The federal bank’s statement came a day after the leading global bankers pledged to take appropriate action if required against the economic damage caused by the outbreak of deadly coronavirus (COVID-19).

(With input from agencies)

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