RBI important update regarding loan EMIs and other aspects

RBI important update regarding loan EMIs and other aspects

RBI came up with important update regarding the loan EMIs and other aspects. In a nation like India, most of the population is from middle class. The middle class people are stumbled with Coronavirus lockdown. Most of the people are worried about EMIs to be paid at this period. RBI in its latest press meet has given the update that three months moratorium period for loan EMIs will be given from April to June.

In this period, borrowers no need to pay their EMIs. For a example, If the EMI period is for 60 months, then the bank will reschedule the EMI period as 63 months. So that the borrower gets a break for the next three months.

Here are the other aspects related to all the sectors as announced by RBI. We are taking the Source from CNBC- TV18 Twitter handle.

  • RBIActs ! @RBI CUTS REPO RATE BY 75 bps
  • RBIActs | RBI’ MPC voted 4:2 to reduce policy repo rate by 75 bps to 4.4% & Reverse Repo rate cut by 90 bps to 4%
  • RBIActs | @RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic
  • RBIActs | Reverse Repo Cut more so that banks are incentivised to lend, disincentivised to hoard money
  • RBIActs | Need conventional, unconventional measures to combat virus, says @RBI Governor @DasShaktikanta
  • RBIActs | There are downside risks to growth from prolonged lockdown. Actual CPI outcomes running 30 bps above our projection, says @DasShaktikanta
  • RBIActs | MPC decides to refrain from growth & inflation targets, given the uncertainty, @DasShaktikanta
  • RBIActs | Need of the hour is to shield domestic economy from #COVID19 pandemic, @DasShaktikanta
  • RBIActs | Growth worries could be reduced if #COVID19 spread is contained, @DasShaktikanta
  • RBIActs | Collapse in food prices could work towards easing food price pressures, says @DasShaktikanta
  • RBIActs | Appropriate that MPC decisions and other @RBI actions must be seen as a comprehensive package with force multipliers, says @DasShaktikanta
  • RBIActs | Efforts to ease fin stress by relaxing repayment pressure & improving access to Capital, @DasShaktikanta
  • RBIActs | Multi-pronged approach adopted to ease #COVID19 related liquidity constraints, @DasShaktikanta
  • RBIActs | Target long-term repo operation (LTRO). Large sell-offs in markets have intensified pressure. RBI will conduct LTRO of up to 3-yr tenor of upto Rs 1 lk cr at floating rate linked to policy repo rate, @DasShaktikanta
  • RBIActs | First auction of Rs 25,000 cr will be conducted later today, @DasShaktikanta
  • RBIActs | CRR cut will release Rs 1.37 lk cr into market, says @DasShaktikanta
  • RBIActs | Liquidity infusion of Rs 3.74 lakh cr via the three steps announcement – LTRO, CRR and MSF, @DasShaktikanta
  • RBIActs | Reduce maintenance of daily CRR balance from 90% to 80%

RBIActs | All Banks, lending institutions may allow a 3-month moratorium on all loans, @DasShaktikanta

  • RBIActs | Lending institutions, banks, allowed to defer interest on working capital repayments by 3 months, @DasShaktikanta
  • RBIActs | Moratorium on term loans, deferment of interest payment will not result in asset classification downgrade, @DasShaktikanta
  • RBIActs | Banks may reassess working capital Cycle, won’t be treated as NPA, @DasShaktikanta
  • RBIActs | @RBI has injected liquidity of Rs 2.8 lakh cr via various instruments equal to 1.4% of GDP since the last policy in February, @DasShaktikanta
  • RBIActs | Do not resort to panic withdrawal of deposits from pvt banks, your money is safe, @DasShaktikanta
  • RBIActs | Indian Banking system is safe and sound. Depositors of commercial banks including pvt banks need not worry on the safety of their funds, @DasShaktikanta

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