RBI allows banks to offer moratorium on EMI payments for another 3 months; GDP growth in 2020-21 expected to remain in negative category: RBI Governor

by Business | 22-05-2020 | 370 views

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.

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