RBI extends loan repayments moratorium by 3 more months

May 22, 2020 10:40

Update on RBI guv's presser: RBI to roll over Rs 15,000-cr refinance facility for SIDBI for 90 days.

-- Combination of fiscal, monetary and administrative actions will create conditions for revival of economy in 2nd half of FY21.

-- RBI increases export credit period to 15 months from 1 yr.

-- RBI extends moratorium on loan repayments by three more months in view of COVID-19.

Indian markets have declined even as the Reserve Bank of India slashed repo rate by 40 basis points to 4 per cent and maintained the stance 'accomodative'. The reverse repo rate now stands at 3.35 per cent from 3.75 per cent earlier. Moreover, RBI Governor Shaktikanta Das said that the GDP growth in FY21 is expected to be in negative territory.

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