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Lockdown, Day 59: RBI bats against a yorker
The RBI today cut rates by 40 bps, in a monetary move to contain the continued battering of the Indian economy. Although Governor Shaktikanta Das said that the economy could get a boost from ideal conditions created by fiscal, monetary and administrative actions taken so far, he acknowledged that GDP growth would likely remain in the negative territory in 2020-21.
There's not all bad news though, the RBI announced an extension of the moratorium on payment of installments to all term loans till August 31.
Track this space for latest updates...
COUNT SO FAR
FROM MINT STREET
LIFE UNDER LOCKDOWN
BUSINESS AND ECONOMY
AROUND THE WORLD
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Is India's startup story over for good? Tell us here
There's not all bad news though, the RBI announced an extension of the moratorium on payment of installments to all term loans till August 31.
Track this space for latest updates...
COUNT SO FAR
 | Haryana tally rises to 1,031 |
| With 76 new cases, Indore's tally reaches 2,850 |
| Jharkhand reports 5 new cases |
| Rajasthan reports 54 new cases |
| Andhra Pradesh reports 62 new cases |
| 278 more test positive in Maharashtra Police |
| Delhi reports 660 new cases; 14 deaths |
| 5 CISF personnel test positive in Jharkhand |
| Karnataka reports 105 new cases |
| One more case in Manipur; state tally now 26 |
| 5 new cases in Uttarakhand takes state tally to 151 |
| World | India | ||
| Tally | Toll | Tally | Toll |
| 5,106.686 | 333,001 | 112,359 | 3,435 |
FROM MINT STREET
| GDP growth projected to be in negative territory |
| Policy repo rate cut by 40 basis points - from 4.4% to 4% |
| Moratorium extended for three more months, up to August 31 |
| GDP growth estimated to be negative in FY21 |
| Rs 15,000 cr allocated to EXIM banks |
| Group exposure limit of banks increased from 25% to 30% |
| Special refinancing facility of Rs 15,000 cr to SIDBI extended |
LIFE UNDER LOCKDOWN
| Delhi HC suspends functioning till 31st May |
| Tamil Nadu allows autos and cycle rickshaws |
| Air India begins booking of domestic flights |
| Pending ICSE & ISC exams from July 1 to 14 |
| Railways opens online bookings |
| Some OCI cardholders can now travel to India |
| Intra-state train services resume in Karnataka |
BUSINESS AND ECONOMY
| Sensex ends 260 pts lower; Nifty ends below 9,050 |
| Current account may turn surplus in FY21 |
| Amazon India to add 50,000 temporary roles |
| Deposits rise over Rs 2.8 lakh cr amid lockdown |
| Covid wipes out yarn and garment exports in April |
| I-T dept has issued refunds worth Rs 26,242 cr since April |
AROUND THE WORLD
| No annual growth target for China, a first in years |
| Nissan may axe 20,000 jobs |
| Bangladesh produces 1st generic version of remdesivir |
| Global cases cross 5.12 million; death toll tops 332,500 |
| Germany's tally rises by 460 to 177,212 |
| Brazil passes 20,000 virus deaths |
| 614 new cases takes Singapore's tally over 30,000 |
DEBATE THIS
Is India's startup story over for good? Tell us here
