CRR cut RBI Governor will hold a press conference today, a big announcement for the general public

CRR cut RBI Governor will hold a press conference today, a big announcement for the general public

The banking system will become flush with liquidity aggregating ₹3.74 lakh crore as the Reserve Bank of India (RBI) has, among others, decided to cut the cash reserve ratio (CRR) to 3 per cent from 4 per cent and decided to conduct more long-term repo operation (LTRO). CRR cut, which will be effective for a year, will result in infusion of primary liquidity for banks aggregating ₹1.37 lakh crore. Breather for borrowers RBI has also declared a three month moratorium on payment of installment on all term loans. It also allowed deferment of servicing of working capital loans (cash credit/ overdraft) for three months. These measures, which are aimed at helping borrowers and banks tide over the crisis arising from the Covid-19 pandemic, will not lead to asset classification downgrade, said Governor Shaktikanta Das. The moratorium/ deferment will be available for loans outstanding as on March 1, 2020. This drop in the repo rate is the largest in the history of RBI In the midst of a lockdown, the government is constantly making efforts to boost the country's economy. Under this, the Reserve Bank has reduced the repo rate as expected by 75 basis points. After this reduction, the repo rate has dropped from 5.15 to 4.45 percent. The decline in the repo rate is the largest in the history of RBI, stating that in the last two financial review meetings, the RBI had not taken any decision on the repo rate. After the decline, the repo rate dropped from 5.15 to 4.45 percent In the midst of a lockdown, the government is constantly making efforts to boost the country's economy. Under this, the Reserve Bank has reduced the repo rate as expected by 75 basis points. After this reduction, the repo rate has dropped from 5.15 to 4.45 percent. The decline in the repo rate is the largest in the history of RBI, stating that in the last two financial review meetings, the RBI had not taken any decision on the repo rate. At the same time, the RBI also reduced the reverse report by 90 basis points to 4%. The benefits of a reduced rate of repayment will benefit billions of people who pay a variety of EMIs, including a home, car or other loan. RBI's focus on financial stability The RBI has devised a strategy to fight Corona. She is constantly monitoring daily events. MPC has decided to rate cut in a 4: 2 majority. The RBI said that our focus is on financial stability. Demand may be affected due to COVID-19. The challenge will be to achieve 4.4% growth in H2. Supporting the local economy is a demand of the present. Uncertainty like this has never been seen before. In addition, the RBI has relaxed the loan repayment rules. Sourse By Divybhaskar &

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CRR cut RBI Governor will hold a press conference today, a big announcement for the general public
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