RBI announces various measures for dealing with the COVID-19 pandemic

Apr 02, 2020 | by Avantis RegTech Legal Research Team

Finance & Taxation Compliance

The Reserve Bank of India (RBI) on April 01, 2020, announces various additional measures relaxing certain guidelines and providing vital information to deal with COVID-19 pandemic across India.

The followings are the measures taken by RBI:-

 RBI extends the time period for realization and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended to 15 months from the date of export, which will enable the exporters to realise their receipts.

 RBI has been decided to increase the Ways and Means limits by 30% of its current limit for respective bodies. The revised limits will come into force with effect from April 01, 2020 and will be valid till September 30, 2020.

 It has been further decided that the Countercyclical capital buffer (CCyB) will not be activated for at least a year.

[Press Release No.: 2019-2020/2167]


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