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RBI Governor Shaktikanta Das allows a 3 months moratorium on EMIs

Reserve Bank of India Governor Shaktikanta Das has allowed banks to provide a 3-month moratorium on EMI repayments. Das has announced a Monetary Policy Committee (MPC) in view of the COVID-19 crisis and voted for a massive reduction in repo rate in order to mitigate economic risks. He has reduced the repo rate by 0.75 basis points to 4.4 percent to revive growth as India battles the effects of pandemic. RBI also reduced the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3% net demand.

Read More – Times of India | Economic Times | The Hindu | Business Today

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Akshay Washindkar
23, Aspiring Actor, Screenplay Writer, Filmmaker, Content Writer @Headline English.

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