Here are the key points from

's address:

RBI's Rs 50,000 crore liquidity support:

Covid-19:

On IMF projection:

Covid-19: RBI announces 25 basis point reverse repo cut from 4% to 3.75% now

NEW DELHI: Reserve Bank of India RBI ) governor Shaktikanta Das on Friday addressed the media amid the ongoing coronavirus crisis. This comes just a day after Prime Minister Narendra Modi met Union finance minister Nirmala Sitharaman to discuss contours of a proposed stimulus package to kick-start India's stalled economy.* Under liquidity adjustment facility (LAF), reverse repo rate (rate at which RBI borrows funds from banks) reduced by 25 basis points (bps) to 3.75%; repo rate -- rate at which RBI lends money to banks -- unchanged (4.40%) as the decision is taken by the MPC (Monetary Policy Committee)Rs 25,000 crore for NABARD (National Bank for Agriculture and Rural Development); Rs 15,000 crore for Sidbi (Small Industries Development Bank of India); Rs 10,000 crore for NHB (National Housing Bank)* 90-day NPA (non-performing asset) norm not to apply on moratorium granted on existing loans by banks* LCR (liquidity coverage ratio) requirement of banks brought down to 80% from 100%; to be restored in phases by April next year* Banks not to make any further dividend payout in view of financial difficulties arising from Covid-19* In the period ahead, inflation could even recede further, barring of course any supply side disruptions and may even settle well below the target of 4 per cent by the second half of 2020-21RBI has been very proactive and monitoring the situation very closely; it will monitor evolving situation continuously and use all its tool to deal with pandemic falloutIndia is expected to post sharp turnaround in 2021-22* IMF projection of 1.9% GDP growth for India is highest in G20* Impact of Covid-19 not captured in IIP (index of industrial production) data for February* Automobile production, sales declined sharply in March; electricity demand has fallen sharply* Contraction in exports in March at 34.6% much more severe than global financial crisis of 2008-09* No downtime of internet or mobile banking during lockdown; banking operations normal,* Surplus liquidity in banking system has increased substantially as result of central bank actions* Frontline workers (doctors/nurses/social) have shown a great workThis is the RBI governor's second press briefing since the Covid-19 outbreak. In his previous address on March 27, he had announced a rate cut of 75 bps.The extension of the lockdown till May 3 has triggered fresh demands for a stimulus as companies are finding it difficult to pay salaries and meet other costs because of the loss of a large part of their revenue.