Saturday, March 28, 2020

Punjab National Bank MD & CEO Mallikarjuna Rao Reaction to Measures Announced by RBI

"Today RBI's decision has been very bold in terms of addressing current challenges faced by the economy. All the measures taken, whether Repo rate reduction, CRR cut, TLTRO, moratorium on repayments, infusion of liquidity, etc have been unprecedented and in right context.

The 3 month moratorium on all term loan installments along with deferment of interest on working capital will help mitigate the debt servicing burden due to covid 19 disruption and prevent transmission of financial stress among  various sectors of the economy.

Total liquidity injection of RS 3.74 lakh crore through TLTRO, CRR & MSF will address the liquidity stress in view of highly volatile financial markets. Considering the potential stress, the last tranche of 0.625 percent of CCB has also been deferred to Sept' 30 2020.

However challenges remain in terms of transmitting these measures to customers amid social distancing. Effective digital and electronic delivery to the last mile will remain the key issue."

Attached is the image of MD & CEO Of Punjab National Bank- Sh CH. S. S. Mallikarjuna Rao for your reference.  Request you to kindly use the same in your esteemed publication.

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