New Delhi: RBI Governor Shaktikanta Das on Friday announced that banks will be able to provide moratorium on EMIs and term loan payments to customers for another 3 months from June 1 to August 31. RBI on March 27 allowed financial institutions to offer a moratorium of three months on payment of instalments of all term loans outstanding as on March 1.
RBI's Top 5 Announcements:
- Repo rate cut by 40 basis points Loan moratorium extended for 3 months.
- Headline inflation could stay firm in first half of 2020, but soften thereafter.
- If inflation trajectory evolves as expected, space will open up for more rate cuts.
- India GDP growth in 2020-21 is estimated to remain in negative territory.
- Regulatory measures to support exports, imports, states.