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The MACROs makes your life so easy and let you do more with your keyboard. Macro is a program that can change several keyboard actions to one click. Like Keyboard translation, setting text color, changing mouse pointer…In a break with tradition, the Reserve Bank of India has set aside an amount of ₹13,000 crore for a special contingency fund for addressing the fallout of the Covid-19 pandemic.

The central bank announced that the “special contingency fund” amount would be raised through the sale of government securities and monetisation of some bonds and loans.

“We have set aside a special contingency fund to deal with the impact of the Covid-19 and that amount has been raised by the sale of government securities and some loans that we have monetised,” RBI deputy governor Viral Acharya said on a panel discussion at the Mumbai School of Economics.

The biggest impact of the pandemic would be on the demand for liquid assets from the banking system, he added.

In an extraordinary meeting of the RBI’s monetary policy committee, on April 30, the central bank had set aside ₹3,000 crore to deal with the coronavirus-led economic slowdown.

The central bank, however, said the specific contours of how the funds would be utilised would be decided later in the year.

The central bank, which had raised its benchmark repo rate by 225 basis points to 5.4% to contain the impact of Covid-19 on the Indian economy, has already withdrawn all liquidity support to the banking system.

On the global front, India’s multi-faceted response has been well received.

Domestically, central bank data has showed that the rupee has appreciated more than 30% against the dollar since the start of the Covid-19 lockdown on March 25.

The rupee opened on a more than one-month high at 65.78 to a dollar on Wednesday after Federal Reserve Chair Jerome Powell said the Fed will pump an additional $2.3 trillion of liquidity into the world’s biggest economy.

The RBI has cut all statutory liquidity support to commercial banks.

The apex bank is banking on more than 60% of the full-year earnings of banks from non-core business to plough in more than ₹14,000 crore to further recapitalise them.

The government has also taken the credit card companies 384a16bd22

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