The RBI EMI moratorium on loan payments ended its six-month run on August 31, 2020. It won’t impact those who didn’t avail the moratorium and continued paying the EMIs on their home loan, car loan or personal loan. However, for…
RBI grants priority sector lending status to startups
India’s central bank has granted priority sector lending or PSL status to startups, a move that will help emerging companies in different sectors to access bank credit on time. PSL is a tool given by the Reserve Bank of India…
Five things to watch out for in RBI’s monetary policy announcement
Reserve Bank of India Governor Shaktikanta Das will announce the policy decision of the Monetary policy committee on Thursday at 11:45 am, a shift from the normal schedule due to the downpour. What is also unique about the meeting this time is…
President promulgates ordinance to bring co-operative banks under RBI supervision
President Ram Nath Kovind has promulgated the Banking Regulation (Amendment) Ordinance, 2020 to bring all urban cooperative banks and multi-state cooperative banks under the supervision of the RBI in order to protect the interest of depositors. The Ordinance amends the…
RBI comes to the rescue of online borrowers
While the access of funds has been made easier, simpler and faster by lots of fin-tech companies, the RBI has taken a few more steps in the interest of borrowers. Many individuals are looking for online loans during lockdown to ease…
RBI Steps in Monetary Stimulus
The RBI also announced a series of measures to address the stress in the financial conditions caused by the pandemic such as injecting sizeable liquidity in the financial system, ensuring credit flow, relaxation in repayment and debt servicing pressures and…
RBI Says all Banks Should Link Loans, Deposits to Repo Rate
The Reserve Bank of India (RBI) is considering asking banks to link loans to an external benchmark such as the repo rate to improve transmission of policy rates and foster economic growth. In December, RBI said that banks must set…