Business

COVID-related relief measures have sunset date: RBI Governor

Mumbai, March 21

All COVID-related liquidity relief measures extended by the central bank have come with a sunset date and would be withdrawn in due course, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday.

Addressing an event organised by the Confederation of Indian Industry (CII), Das said, “any relief, RBI has given, has a sunset date, those reliefs were given in timeframe manner. It has an opening and closing date.”

The RBI Governor said the central bank would come out with a mechanism to ensure that the liquidity measures are withdrawn smoothly.

“We will ensure abundant liquidity to meet the requirements of the productive sectors of the economy. Rs 17 lakh crore liquidity support was provided,” Das said.

Das said the RBI would continue to support the economic growth. “Indian economy is on growth path as many high-frequency indicators of economic activity are in green. Our CAD (current account deficit) is low and our forex reserves quite high,” he said.