- 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.
