NEW DELHI: The Reserve Bank of India (RBI) on Friday asked scheduled commercial banks and co-operative banks not to make any dividends for the financial year ending March 2020 and said it will review this stand in September.

RBI Governor Shaktikanta Das today said this was being done to conserve cash in view of the challenges posed by covid-19. The central bank today also cut the reverse repo rate by 25 basis points to 3.75% while announcing liquidity steps for non-banking finance companies (NBFC).

It kept the repo rate unchanged at 4.4%. To improve liquidity for NBFC, Das announced the launch of second installment of TLTRO -- TLTRO 2.0 -- for easing credit to NBFCs.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

RBI tells banks not to make any dividends, to review norm in September

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