In an unscheduled address today, RBI Governor Shaktikanta Das laid out the contours of Part 1 of calibrated measures by the RBI to counter the pandemic. To help all stakeholders in the Covid fight, Das announced an on-tap liquidity facility of Rs 50,000 crore to ease access to healthcare services. Individuals and MSMEs borrowers can avail one-time restructuring till September 30, 2021. This covers those having exposure up to Rs 25 crore, and those that were standard as of March 31 this year. Rs 50K cr priority lending for COVID fight, one-time loan restructuring: RBI Guv Das’ key announcements
MUMBAI: The Reserve Bank of India (RBI) on Friday took a determined step towards boosting credit growth by announcing a Rs 1 lakh crore long-term repo operations (TLTRO) for banks.RBI MPC key announcements for better liquidity availability, RTGS system
The Reserve Bank of India has announced an extension of the moratorium on loan EMIs by three months, i.e. August 31, 2020, making it a total of six months moratorium on loan EMIs starting from March 1, 2020. The central bank hiked the group exposure limit of banks from 25 per cent to 30 per cent and also eased the rules governing withdrawal from the Consolidated Sinking Fund (CSF) resulting in release of additional Rs 13,300 crore to the states. Watch key regulatory announcements from the RBI governor’s Friday presser. (Text: ET Online/PTI)Loan moratorium extended, banks’ group exposure limit raised, borrowing rules for states relaxed: Key RBI regulatory announcements
While the moratorium and working capital relaxations are welcome, exporters would need direct fiscal support for staying alive in business.
The scheme is available from today, that is, April 27. It will be available until May 11 or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.
The RBI announced a host of measures today aimed at increasing liquidity in the economy.
The Governor announced a second tranche of liquidity for NBFCs, refinancing institutions.
RBI Retail Direct Mobile App: The central bank announced the launch of mobile app for RBI Retail Direct portal for investing in government securities. This will make it easier for retail investors to buy, sell and invest in central government bonds, state government bonds, treasury bills, Sovereign Gold Bonds via Retail Direct Portal. The RBI launched the RBI Direct Scheme in November 2021 to make it easier for common man to invest.
The Reserve Bank of India (RBI) has hiked the transaction limit for UPI auto payment limits requiring OTP -based authentication to Rs 1 lakh from Rs 15,000 currently. As per the announcement, new limit will apply on mutual fund subscriptions, insurance premium and credit card repayments. Read on to know the new rules.
RBI also announced that limited KYC accounts opened on the basis of Aadhaar e-KYC authentication in non-face-to-face mode can be converted to fully KYC-compliant accounts.
RBI’s decision to reduce reverse repo rate by 25 basis point and additional liquidity for NHB will also accelerate and facilitate bank credit flows towards to the beleaguered sector in the wake of Covid19 crisis.
If you are a customer with an NBFC, then here is everything you need to know about getting your grievances redressed by the ombudsman.
Rajan says govt reform measures on small savings rates combined with the RBI’s refinements in the liquidity should help home buyers.
Jayant Sinha said the Budget has taken various fiscal and reform initiative, thus creating space for monetary easing.
“It does not appear that a small reduction in interest rates will actually create enough incentive for companies to go ahead and do fixed investments.”
The banking stocks discounted the CRR hike by the RBI on Friday and surged up to 3 per cent on the Bombay Stock Exchange.
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