If we talk about Coronavirus, then because of Coronavirus there has been a 21 day lockdown in India
Because of which everyone has to stay at home
But the economic implication of this is also very big
Because of which the finance minister Nirmala Sitharaman
Made very important announcements in the recent times
But how those announcements are very important for every person
We are going to talk about that in today's video
Apart from this, in today's video we are going to talk about
The meeting of RBI that took place today where the rate got cut
What was the motive behind cutting the rate
And what is the implication of that on the economy
And apart from this on your investments
I, Jagdeep Singh, welcome you to the Groww channel
Let us start today's video
So first I will talk about the first and the most important point
So the government has said that if you have not linked your aadhar card to your pan card yet
The deadline for that has increased from 30th March to 30th June
Apart from this the deadline of some other things as well
Has been changed to 30th June
Like the people who file GST and have to file the GST of March, April and May
They can file GST until 30th June
Apart from this, the date to file taxes which was 30th March has now increased to become 30th June
Apart from this if I talk about the second very important point
The government has said that wherever you have to withdraw money from, from any ATM
Now you don't have to give that charge
Like until now, if you had one ATM and you withdrew money from another ATM
If you withdrew money from there, you used to charged a certain amount
Which was slightly lower, but now that charge has been completely removed
Because now people can only remove money from the ATM closest to their house
Apart from this if I talk about the third point, which is it very important
If you had to maintain your account in any bank
In many places you need to have a minimum balance account
If your balance went below that, then you had to give a charge on that
But the government has said that that has been removed now
Even if you have a little money in your bank account
And you need that in an emergency
You can remove that money you will not be charged anything now
Now we will talk about the fourth important point
For frontline workers
Who are working in the frontline and fighting against Coronavirus
Which is our medical team
The people who are curing people and fighting against Coronavirus
The government has announced for them that
The people who are frontline workers at this time
All those people will get an insurance cover of Rs 50 lakhs
Who are fighting against Coronavirus in the frontline
Apart from this if I talk about the next important point
This is an important point for the people who come in the low income group
The finance minister has said that the 80 lakh people
Who come in the low income group
For them 5 kgs wheat, or 5 kgs rice
Apart from that, 1 kg of their preferred dal
They will get that free in the coming time, month by month
So for them a good package has been announced
So that their basic requirements can be fulfilled
Apart from this another very important point
Upto 1.7 lakh crore, Pradhan Mantri Gairb Kalyan Yojana
Has been announced so that until the poor people
Money can be reached for their basic necessities
So the poor people who are at home right now, for whom there is a big problem right now
About where they will get ration from
So all these things have been kept in mind
In the announcement that Nirmala Sitharaman had made some time ago
So for this lockdown it is very necessary for everyone to stay at home
And take care of yourself at home
After this let us talk about RBI's policy meeting, the result of which came out today
Because whenever an up and down like this comes in the economy, it is very important to see the policy RBI comes out with
Because RBIs policy which we call monetary policy
It is very important to bring back economic activity in the economy
Because of which, what people were expecting
That interest rates will be lowered, because of which RBI reduced the interest rate
And the interest rate was reduced by 0.75%
Which has now reduced and become 4.4%
Why is the interest rate reduced so much when there is a problem in the economy
So the biggest reason for reducing the interest rate is that
That is of bringing in liquidity in the country
When RBI reduces its interest rate, the loan that people get is cheaper
And when people get loans at a lower rate
More people will go to apply for a loan
And when people go to take loans
They will invest money, spend money back in the country and the economic activity in the country will be on track again
So whenever an economic situation like this arises in the country again
There, central bank normally reduces its interest rate
Because of which even RBI reduced its interest rate by 0.75% in the recent times
So it is possible that we can see a good result of that in the coming days
Now I will talk about the second important point which comes from the recent RBI meet which we call CRR
Cash Reserve Ratio
This ratio tells us that if a bank has a total deposit of Rs 100
How much percent of that money should they keep with RBI
So consider is that ratio is of 4%
If the bank has Rs 100, they have to keep Rs 4 with RBI
Which they cannot use
RBI keeps that with them
So the CRR ratio has been reduced by 1% today by the RBI
Now the new CRR ratio is around 3%
So the reason for reducing this is that the little money that was kept with RBI
If that money comes out of RBI and goes into the banking system
Then that money will be available to give to people as loan
Because of which the liquidity position of banks in our country will become better
Because of which if I give you a figure
The RBI has said that by reducing the CRR
The liquidity in India will improve by 1.37 lakh crore
So when a situation like this comes, people withdraw in panic
And when people withdraw then there comes a pressure on the banking sector
To reduce that, RBI has reduced its CRR ratio today
So because of that we might be able to see a positive impact on the Indian economy in the coming days
So if I talk about the last important point, then even the Reverse Repo rate has been reduced
The new reverse repo rate has been reduced to 4% and that has been reduced by 19 bases point
So because of this it is possible that the economic conditions in India can be improved
So this video we brought for you today was purely for educational purposes
So that the knowledge can reach to you about the steps the Indian government is taking for bettering the economic situation in India
And what can the implications of that be on you
So the RBI meet has its main implications on the banking sector
Like the CRR was reduced
So the liquidity situation in the banking sector improves a little
Which was in a little panic because of panic withdrawal
It was in a little panic and was under a little stress
Apart from this, the announcements that we spoke about by the finance minister becoms very important for the common people
If they are staying at home for 21 days
What are the benefits they are going to get
And that announcement becomes very important for the lower income group
Because their main problem arises when they have to stay at home
And they can't go to work daily
So you can use this video as a fact check
You can plan what you can do in the coming time
And how India's economic situation can be improved in the coming time
But through this video I would like to tell you again
At this time, it is most important for you all to stay at home
Be safe and keep your family safe
So that in the coming time, we can again plan our investments well
Now can also be a good time to invest
Keep following our YouTube channel, because on this, every week
We bring out 2-3 videos which can help a lot for you to make good investments
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Happy investing!