Reserve Bank of India Governor Shaktikanta Das addressed a press conference today at 10 am. During which, the governor announced an extension of the moratorium period on EMI term loans by 3 more months i.e. by August 31, 2020. The last three-month moratorium was ending on May 31, 2020. With this, borrowers will be not be paying any loans during this period. Das also announced that MPC has decided to cut the repo rate to 4% by another 40 basis points.