RBI LATEST NEWS - THREE MONTHS EMI & LOANS RELIEF AND LOWER INTEREST RATE.

LATEST NEWS FROM RBI ( 27th MARCH-2020 )

 

Guys because of the worldwide global crises which is currently in hype , Reserve Bank Of India has launched some relief fund for all the citizens of the country to support them during this spread of COVOID-19.

These measures comes just after some hours after modi ji's investor service cut india's growth forecasts for 2020 calander year to 2.5% from 5.3%.

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Seventh Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee. 

According to RBI,

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (March 27, 2020) decided to:

• reduce the policy repo rate under the liquidity adjustment facility (LAF) by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect;
  
• accordingly, the marginal standing facility (MSF) rate and the Bank Rate stand reduced to 4.65 per cent from 5.40 per cent;
  
• further, consequent upon the widening of the LAF corridor as detailed in the accompanying Statement on Developmental and Regulatory Polices, the reverse repo rate under the LAF stands reduced by 90 basis points to 4.0 per cent.
  
• The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of coronavirus (COVID-19) on the economy, while ensuring that inflation remains within the target.
  
  
  Simple Words.
  
  
  In simple words, RBI has announsed some relief packages for all the citizen of the country regarding their upcoming loan payment.
  As of now, Because lockdown for 21 days, The GDP of the country is found to be gradually decreasing hence commoners are not earnig too.
  It is a true fact that RBI & Govt. of INDIA has relaised the inner needs of the people who are in dept and decided to postponed their loan for 3 - months and also in interest rate of loans have been decreased.
  To urge for this programme, one need to reach their bank branch and had to have talk with the executive.
  
  
  Although it's a good measure from RBI & the respected Govt.  
  
  Watch the video from here - https://youtu.be/Sz1WxgKkMjU
  
  
  
  THANKS FOR YOUR VISIT.