Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Bangladesh 01 01 - Liquidity Support BDT 380,000,000,000 4,473,219,541
Bangladesh 01A 01A - Short-term lending BDT 380,000,000,000 4,473,219,541 Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/acd/apr132020acd01.pdf (accessed June 29). Banglashesh Bank. https://www.bb.org.bd/ (accessed 29 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020).

(i) Bangladesh Bank (BB) has created several refinancing schemes, including a BDT50 billion Pre-shipment Refinancing scheme to support exporters, a BDT50 billion Special Incentive Refinancing Scheme for the agriculture sector, a BDT30 billion Refinancing Scheme to support micro-finance, and a BDT250 billion refinance scheme to facilitate the implementation of the government stimulus packages.; (ii) No amount/estimate: Banks and financial institutions can borrow 360 days against additional treasury bills and bonds of statutory deposit rate (SLR) with Bangladesh Bank. The remaining amount of the face value will be paid as repo by applying margin of 15% and 5% face value of treasury bills and bonds respectively. [update]

Bangladesh 01B 01B - Support policies for short-term lending BDT Banglashesh Bank. https://www.bb.org.bd/ (accessed 29 June 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020). The Financial Express. https://thefinancialexpress.com.bd/economy/bangladesh/bb-slashes-crr-to-20pc-for-obo-1592536938 (accessed 26 June 2020).

(i) No amount/estimate: The CRR was initially reduced from 5% to 4.5% (daily-basis) and from 5.5% to 5% (bi-weekly basis), with a further reduction to 3.5% and 4%, respectively, from April 15; For non-bank financial institutions, CRR has been reduced to 1.5% (bi-weekly basis) and 1% (daily basis) effective from June 1, 2020. (ii) No amount/estimate: June 19, central bank lowered cash reserve ratio by 200 bp to 2.0% for offshore banking operation. [update]

Bangladesh 01C 01C - Forex operations BDT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020).

No amount/estimate: Foreign exchange rules were eased by Bangladesh Bank to provide foreign currency to the Bangladeshi nationals who are visiting abroad and facing problem in returning home due to travel disruptions. It also resumed sales of the US dollar to offset extra pressure on the market caused by lower remittance inflows following the COVID-19 outbreak.

Bangladesh 07 07 - Central bank financing government BDT IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020).

No amount/estimate: The Bangladesh Bank has announced that it will buy treasury bonds and bills from banks.

Bangladesh 07A 07A - Direct lending and reserve drawdown BDT
Bangladesh 07B 07B - Secondary purchase: government securities BDT
Bhutan 01 01 - Liquidity Support BTN/INR
Bhutan 01A 01A - Short-term lending BTN/INR
Bhutan 01B 01B - Support policies for short-term lending BTN/INR International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 June 2020).

No amount/estimate: April, Provision of working capital at 5% interest for wholesale distributors authorized by the Ministry of Economic Affairs (MoEA) for a period of 3 months, extendable by 3 months to enable them to procure adequate stocks and ensure uninterrupted supply of essential items at reasonable price.

Bhutan 01C 01C - Forex operations BTN/INR
Bhutan 07 07 - Central bank financing government BTN/INR
Bhutan 07A 07A - Direct lending and reserve drawdown BTN/INR
Bhutan 07B 07B - Secondary purchase: government securities BTN/INR
India 01 01 - Liquidity Support INR 10,819,366,747,737 145,585,585,834
India 01A 01A - Short-term lending INR 8,171,879,440,000 109,960,950,893 Financial Times. https://www.ft.com/content/5734f333-e4d7-4ebf-9de2-220e537da3f0?accessToken=zwAAAXIRWB3Ykc9XNPMz5NdOv9Od4iIOU32j8A.MEQCIE1obkN05q4qkjoiBgF6riG66o6ocs0SQWfl2AsFIikHAiADu_DmNRDP9bo3QfxgYpytmLV8FGnEHOa8g66dgBdahQ&sharetype=gift?token=4a849e3f-c1b7-487d-ba1d-e73f283cd8c8 (accessed 14 May 2020). India Economics Update, Capital Economics. IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 03 June 2020).

The Reserve Bank of India (RBI) has introduced (i) open market operations (over 0.1% of gross domestic product [GDP]); (ii) variable term repos (0.5% of GDP) to ease any domestic liquidity pressures; (iii) special refinance facilities for rural banks, housing finance companies, small enterprises (0.2% of GDP); (iv) a special liquidity facility for mutual funds (INR500 billion); (v) May 13, INR6 trillion worth of RBI liquidity injections into the banking system; (v) No amount/estimate: extension of the of the small business refinancing facilities.

India 01B 01B - Support policies for short-term lending INR 2,446,090,420,000 32,914,634,941 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

(i) No amount/estimate: Cash reserve ratio (CRR) maintenance for all additional retail loans has been exempted and the priority sector classification for bank loans to nonbanking financial companies (NBFCs) has been extended for on-lending for FY 2020/21. (ii) The CRR was cut by 100 bps and the ceiling for marginal standing facility was increased to 3% of the Statutory Liquidity Ratio (together with Measure 2A, these comprise around INR3.7 trillion worth of liquidity). (iii) April 20, The RBI increased the limit for ways and means advances (a short-term liquidity facility for central and state governments) to 60% (for state) and INR2.0 trillion (for central governments). (iv) Temporary reduction of the Liquidity Coverage Ratio from 100% to 80% and restriction on banks from making dividend payouts.

India 01C 01C - Forex operations INR 201,396,887,737 2,710,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

The RBI conducted two sell–buy swap auctions to inject United States dollar liquidity into the forex market to a cumulative USD2.71 billion on March 16 and 23.

India 07 07 - Central bank financing government INR 100,000,000,000 1,345,601,727
India 07A 07A - Direct lending and reserve drawdown INR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).

April 20, The RBI increased the limit for ways and means advances for the Central Government (a short-term liquidity facility) for the remaining part of the first half of the FY 2020/21 from INR 1.2 trillion to INR2.0 trillion. The WMA is a temporary liquidity facility offered by the RBI to the government that acts as a credit line that the government may call upon to help them reconcile short-term mismatches in cash flows of their receipts and expenditures.

India 07B 07B - Secondary purchase: government securities INR 100,000,000,000 1,345,601,727 RBI. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49712

April 27: INR100 billion purchase of government securities under Open Market Operations (OMO).

Maldives 01 01 - Liquidity Support MVR
Maldives 01A 01A - Short-term lending MVR Ministry of Finance. https://www.finance.gov.mv/media/news/mvr-25-million-economic-recovery-plan (accessed 13 April 2020); International Monetray Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

April, The Government of Maldives will ensure, through banks, availability of working capital to businesses (Note that the amount is included in Measure 5.)

Maldives 01B 01B - Support policies for short-term lending MVR Maldives Monetary Authority (MMA). http://www.mma.gov.mv/#/news/PR-MCS-2020-3(english).html (accessed 13 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020; 3 May 2020).

No amount/estimate: April, The Maldives Monetary Authority (MMA) announced measures including (i) reducing the Minimum Reserve Requirement (MRR) up to 5% as and when required; and (ii) making available a short-term credit facility to financial institutions as and when required. April 23, MRR was reduced to 7.5%.

Maldives 01C 01C - Forex operations MVR Maldives Monetary Authority. http://www.mma.gov.mv/#/news/PR-MCS-2020-3(english).html (accessed 13 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

April, The MMA will increase foreign exchange intervention and use other available facilities to maintain the exchange rate peg.

Maldives 07 07 - Central bank financing government MVR
Maldives 07A 07A - Direct lending and reserve drawdown MVR
Maldives 07B 07B - Secondary purchase: government securities MVR
Nepal 01 01 - Liquidity Support NPR
Nepal 01A 01A - Short-term lending NPR International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 25 June 2020).

No amount/estimate: April 29, Businesses in affected sectors, if they can show the need, can qualify for additional working capital loans of up to 10% of the approved amount of their existing working capital loans, to be repaid within a year at most.

Nepal 01B 01B - Support policies for short-term lending NPR NRB. https://www.nrb.org.np/cmfm_rates/policy_rates (accessed 25 June 2020).

No amount/estimate: March 29, The Nepal Rastra Bank (NRB) lowered its cash reserve ratio from 4% to 3%.

Nepal 01C 01C - Forex operations NPR
Nepal 07 07 - Central bank financing government NPR
Nepal 07A 07A - Direct lending and reserve drawdown NPR
Nepal 07B 07B - Secondary purchase: government securities NPR
Sri Lanka 01 01 - Liquidity Support LKR
Sri Lanka 01A 01A - Short-term lending LKR International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 25 June 2020).

No amount/estimate: April, State-owned financial institutions will invest in treasury bonds and bills to stabilize the money market interest rate at 7%.

Sri Lanka 01B 01B - Support policies for short-term lending LKR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 25 June 2020); CBSL. https://www.cbsl.gov.lk/en/rates-and-indicators/policy-rates (accessed 12 June 2020).

No amount/estimate: (i) March 17, The required reserve ratio on domestic currency deposits of commercial banks has also been lowered by 1 percentage point to ease liquidity conditions from 5% to 4%; (ii) May 13, The liquidity coverage ratio and net stable funding ratios have been reduced to 90%; (iii) June 16, The Central Bank of Sri Lanka (CBSL) decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks (LCBs) by 2 percentage points from 4% to 2% [update].

Sri Lanka 01C 01C - Forex operations LKR CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20200319_the_central_bank_of_sri_lanka_introduces_urgent_measures_to_ease_the_pressure_on_the_exchange_rate_e.pdf (accessed 26 June 2020).

No amount/estimate: (i) March 19, The CBSL introduced the following measures for licensed commercial banks to adopt for a period of 3 months to ease the pressure on the exchange rate. These include (a) suspension of motor vehicle importation, (b) suspension of importation of nonessential goods, and (c) suspension of the purchase of Sri Lanka international sovereign bonds; (ii) April, Inward remittances will be exempted from certain regulations and taxes.

Sri Lanka 07 07 - Central bank financing government LKR
Sri Lanka 07A 07A - Direct lending and reserve drawdown LKR
Sri Lanka 07B 07B - Secondary purchase: government securities LKR