RBI press release to handle the panic in market

Today RBI press release was scheduled to handle panic in the market due to Corona Virus. Two important measures announced by RBI:

• No rate cut announced by RBI. But some liquidity measures are taken
• Rs. 1,00,000 crore of long term repos is announced.
• Surety to the deposit holders of yes bank.

Availability of Digital Payment Options

In pursuance of its vision to promote digital payments, Reserve Bank of India’s (RBI) endeavour has been to establish state of the art payment systems that are efficient, convenient, safe, secure and affordable. RBI wishes to bring to the notice of the general public that non-cash digital payment options (like NEFT, IMPS, UPI and BBPS) are available round the clock to facilitate fund transfers, purchase of goods / services, payment of bills, etc. In the context of the efforts to limit the fallout of the corona virus pandemic by avoiding social contact and visit to public places, public can use these modes of digital payment from the convenience of their homes through online channels like mobile banking, internet banking, cards, etc. and avoid using cash which may require going to crowded places for sending money or paying bills.

Auction of Government of India Treasury Bills