RBI Governor announces extension of moratorium on term loan by 3 more months
Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference announcing measures to ease the financial stress caused by the COVID-19 pandemic.
The RBI reduced the repo rate – by 40 basis points from 4.4 percent to 4 percent while the reverse repo gets adjusted to 3.35% from 3.75%.
RBI announces extension of loan moratorium by 3 more months to August 31 (From June 1 till August 31)
RBI has decided to roll over the facility of Rs 15,000 crore for another 90 days in SIDBI.
Measures announced today can be divided into 4 categories — to improve functioning of markets, to support exports and imports, to ease financial stress by giving relief on debt servicing and better access to working capital&to ease financial constraints faced by state govts