Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : May 22, 2020 06:05 PM IST | Source: Moneycontrol.com

Big Story | RBI cuts key policy rate, extends loan moratorium by 3 months

In this edition of Big Story, Moneycontrol's Sakshi Batra decodes the RBI presser and explains what it means for you.


The Reserve Bank of India (RBI) on May 22 cut the repo rate by another 40 basis points (100 bps=1 percentage point) to 4 percent and reverse repo rate to 3.35 percent.

Accordingly, the marginal standing facility (MSF) rate and bank rate was reduced to 4.25 percent from 4.65 percent. The central bank also extended the moratorium on all term loans by another three months to August 31, Governor Shaktikanta Das said.

The accumulated interest for the moratorium period can be converted into a term loan. The monetary policy committee also decided to continue with the accommodative stance to revive growth and mitigate the impact of COVID-19.

Close

In this edition of Big Story, Moneycontrol's Sakshi Batra decodes the RBI presser and explains what it means for you.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Get best insights into Options Trading. Webinar by Mr. Vishal B Malkan is Live. Watch Now!

First Published on May 22, 2020 06:05 pm