The Reserve Bank of India (RBI) has announced additional measures namely- relax the export norms, increase in Ways & Means (WMA) limit & implement the counter cyclical capital buffer (CCyB) to tackle the economic fallout due to COVID-19. Brief about the measures An extension of the realisation period of export proceeds RBI has extended the period of realization & repatriation of export proceeds for exports made upto or on July 31, 2020 has been extended to 15 months What is CCyB? Its main objective is to use capital buffers to achieve the broader macro prudential goal of protecting the banking sector, which is often associated with creating system-wide risk from periods of excessive credit growth.
RBI announced additional measures to tackle the economic fallout of COVID-19
Current Affairs Calender