Mumbai: The Indian economy has been badly damaged by the Karona epidemic. The country’s economic growth slowed to 23.6 percent in the first quarter of the current fiscal. Shortly after the report came out, the Reserve Bank today released its fourth monetary policy review report for the current financial year. The RBI has given priority to helping it grow and keep rates under control. However, the Reserve Bank estimates that the current fiscal year will be minus 7.5 per cent. The RBI said there would be a gradual improvement in growth. As a result, the repo rate (the rate at which the Reserve Bank lends to banks) remains unchanged at 7 percent. To improve the real estate sector, credit risk has been linked to only 4LTV. LTV (Loan to Value) refers to how much a bank can lend at the cost of an asset. Under the new system, banks will provide loans until March 31, 2022. This will get more borrowers out of the house. It is said that a person who borrows a lot of money will be more profitable. In addition, the Reserve Bank of India (RBI) has announced the collection of loans from the open market and other measures to maintain the availability of cash in the market.Announcing the monetary policy report, Governor Shaktikant said the Indian economy has now reached a crucial stage in the fight against the Karona epidemic. We have already left behind the constraints on economic growth in the first quarter of the current financial year. Now the light of hope is visible. “So now we need to focus on improving growth,” he said. Growth in the first quarter was 23.6 percent, while in the second quarter it was 7.6 percent and in the third quarter it was 5.7 percent. However, the Reserve Bank estimates that growth will be 0.5 per cent in the fourth quarter and 20.6 per cent in the first quarter of the next financial year.
