• Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.
No Result
View All Result
  • Login
The Edge Media
Thursday, October 2, 2025
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
No Result
View All Result
The Edge Media
No Result
View All Result
Home Business Edge

From moratorium in EMIs to repo rate cut by 75 basis points: highlights from RBI Governor’s address

The Edge Media by The Edge Media
6 years ago
in Business Edge, Main Story, National Edge
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on LinkedInShare via TelegramSend To WhatsApp

The RBI has asked banks to provide a 3-month moratorium on loans and EMI repayments. It has also reduced key repo rate by 75 basis points to 4.4 per cent in order to revive growth as India battles coronavirus.  Shaktikanta Das RBI governor on Friday announced that its Monetary Policy Committee (MPC) decided to have its meeting in view of the Covid-19 crisis and voted for a massive reduction in repo rate in order to lessen economic risks.

 The MPC meeting, which was earlier scheduled for March 31-April 3, and was rescheduled to March 25-27 in view of the deteriorating economic situation in the country.

MASSIVE REPO RATE CUT

The RBI’s MPC has voted for  interest rate cut to the tune of 75 basis points,  bringing the repo rate down to 4.4 per cent from 5.15 per cent. The reverse repo rate has also been reduced by 90 basis points to 4 per cent in a bid to maintain financial stability and revive growth.

  RBI Governor said that the position remains very uncertain and going forward much will depend on how India battles Covid-19 pandemic. “The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the world will slip into recession,” Das added.

“MPC noted that global economic activity has come to a near stand-still as Covid-19 related lockdowns and social distancing in affected countries. Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed,” Shaktikanta Das said.

EMI, LOANS ON HOLD

It also announced that banks are permitted to allow a three-month moratorium for on payment of EMIs on all term loans that were outstanding on March 1.

However, the banks will have the authority to take the final decisions  to provide such a relief in the loans. This is seen as a very important point made in the   RBI’s announcements as many people have been financially affected due to the lock down implemented to prevent novel coronavirus from spreading in India. But it remains to be seen as to what extent this helps customers.

Previous Post

Kerala reported 39 new cases in a single day

Next Post

149 New Cases within 24 hours,take Corona virus Count Over 874 In India, 19 Dead

Related News

The Edge Magazine – September 2025

The Edge Magazine – September 2025

by The Edge Media
September 3, 2025
0

What’s Next? SC Revises Stray Dog Order, Directs Sterilisation and Return but Dog Lovers, NGOs Asked to Deposit Costs

What’s Next? SC Revises Stray Dog Order, Directs Sterilisation and Return but Dog Lovers, NGOs Asked to Deposit Costs

by The Edge Media
August 23, 2025
0

The Supreme Court has revised its August 11 order on stray dogs, ruling that sterilised and vaccinated animals be released...

Supreme Court Orders Aggressive Sterilisation to Control Stray Dog Population: A Landmark Verdict Ensures Public Safety & Animal Welfare

Supreme Court Orders Aggressive Sterilisation to Control Stray Dog Population: A Landmark Verdict Ensures Public Safety & Animal Welfare

by The Edge Media
August 23, 2025
0

In a landmark verdict, the Supreme Court of India has directed aggressive sterilisation of stray dogs under the ABC Rules,...

“Marriage Is Not for Absolute Freedom” – Supreme Court’s Bold Statement on Relationships

“Marriage Is Not for Absolute Freedom” – Supreme Court’s Bold Statement on Relationships

by The Edge Media
August 23, 2025
0

In a landmark ruling, the Supreme Court stated that marriage requires compromise and responsibility, warning against unrealistic expectations of absolute...

BJP Leader Rekha Gupta Gets Z+ Security Cover Amid Threat Concerns

BJP Leader Rekha Gupta Gets Z+ Security Cover Amid Threat Concerns

by The Edge Media
August 23, 2025
0

BJP leader Rekha Gupta has been granted Z+ category security cover following intelligence warnings of threats, sparking political debate.

India to Launch First-Ever Human Space Mission ‘Gaganyaan’ in December 2025

India to Launch First-Ever Human Space Mission ‘Gaganyaan’ in December 2025

by The Edge Media
August 23, 2025
0

ISRO has announced December 2025 as the launch date for India’s first human spaceflight mission, Gaganyaan, marking a new era...

Discussion about this post

Recommended

BJP General Secretary’s statement- Not even 1% farmers are involved in the movement

5 years ago
farmer protest

200 farmers reach Jantar Mantar for protest against farm laws amongst heavy security arrangements

4 years ago

Popular News

  • The Edge Magazine – September 2025

    The Edge Magazine – September 2025

    0 shares
    Share 0 Tweet 0
  • What’s Next? SC Revises Stray Dog Order, Directs Sterilisation and Return but Dog Lovers, NGOs Asked to Deposit Costs

    0 shares
    Share 0 Tweet 0
  • Supreme Court Orders Aggressive Sterilisation to Control Stray Dog Population: A Landmark Verdict Ensures Public Safety & Animal Welfare

    0 shares
    Share 0 Tweet 0
  • “Marriage Is Not for Absolute Freedom” – Supreme Court’s Bold Statement on Relationships

    0 shares
    Share 0 Tweet 0
  • BJP Leader Rekha Gupta Gets Z+ Security Cover Amid Threat Concerns

    0 shares
    Share 0 Tweet 0
  • Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.

© 2024 The Edge Media All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge

© 2024 The Edge Media All Rights Reserved.