Coronavirus crisis: RBI Guv announces 3-month relief on EMI for term loans - NTv
Fri, Mar 27, 2020, 11:20 AM
The RBI on Friday announced a three-month moratorium on payment of EMIs on all term loans that were outstanding on March 1. The RBI made it clear that this will not affect the credit history of people and neither will it lead to asset classification. The announcement in this regard was made by RBI Governor Shaktikanta Das while addressing the media. The RBI also cut the repo rate by 75 basis points and that in reverse repo rate by 90 basis points to help the economy tide over the coronavirus distress.