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Sensex Pares Gains as Central Bank Governor Speaks… Rs50000cr liquidity to support lending to key sectors

· RBI announces Rs50000cr liquidity to support lending to key sectors

· RBI – Rs10000cr 3 years SLTRO for small Finance Bank

· CRR relaxation for loans to small firms extended

· Lenders may modify plans to increase moratorium

· Allows fresh loan recast for some small firms

· Stocks pared gains as the central bank governor Shaktikanta Das gives an unscheduled address amid surging coronavirus cases in the nation.

· The situation has altered drastically over the past month, said Governor Das. The current situation has to be matched with policy actions which are

calibrated, sequenced and well-timed.

· The outlook for the global economy is highly uncertain and subject to downside risks, Das said, setting the stage for the announcement of a fresh set of measures. In India, the second wave and restrictions and containment measures are likely to impact aggregate demand, particularly from the high-contact services sector, Das said.

· However, the dent in aggregate demand is likely to be moderate compared to a year ago, Das said#NIFTY50 #NIFTYBANK #MacroEconomy