mangaluru describing the new rbi measures as a lifesaving dose for millions of businesses assocham on friday said along with governments partial reopening plan from the lockdown further regulatory forbearances infusion of additional liquidity and nudging banks to do real lending would provide a muchneeded shield both to corporate india as also the most vulnerable informal sectors of the economy from the covid19 pandemic onslaughtthe whateverittakes approach of the rbi to face the challenge of the health crisis that is projected to shave 9 trillion off the global economy in two years reflects courage and responsibility on the part of the reserve bank of india governor shaktikanta das is clearly on top of the situation navigating it in the high seas of fast evolving challenges resulting from the unprecedented health crisis said assocham secretary general deepak soodthere are several relief measures unveiled by the rbi which should help the nbfcs housing finance companies small businesses and above all considerably avert the risk of further npas he saidthe fact that the npa reclassification norms giving more time to the stressed loans to remain standard are accompanied by the need for higher provisioning by banks shows the prudence path followed by the rbi higher provisioning would provide a longterm stability and higher protection to the banks after all the banks are frontline warriors of the businesses as doctors and health workers are to the human beings he addedthe asset standstill till may 31 2020 for all standard accounts which were granted moratorium or deferment as on march 1 2020 will be big relief to the borrowers as also banksby reducing the reverse repo further to 375 per cent from 40 per cent the rbi is keen on productive deployment of huge funds parked with itself by the banks as much as rs 690 lakh crore is parked under this window as on april 15 and the rbi wants banks to use this in investments and loans in the productive sectors of the economy this is a clear incentive as also nudging to the banks to leave their overcautious approach and deploy money in the productive system sood saidadditional liquidity of rs 1 lakh crore for the nbfcs smes hfcs and micro finance institutions should provide relief to the key sectors of the economy whether this would need further infusion depends on how the situation unfolds in the coming weeks assocham saidthe regulatory forbearances to commercial real estate projects should also help although the emerging scenario would also depend on how the partial reopening of lockdown after april 20 pans out one hopes the pandemic has peaked and should fast recede as the centre and the states are waging battles in the most coordinated manner with the cooperation of other stakeholders of society and peoples participation he saidassocham also draws comfort from the forwarding looking statement of the rbi governor expressing hope for downward inflation trajectory