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RBI extends the three-month moratorium
The loan moratorium will be extended till August 31 2020.
This makes it a six month moratorium
Lending institutions are being permitted to restore the margins for working capital to the origin level by March 31, 2021...
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RBI Governor Shaktikanta Das addressed the media at 10 am today post Finance Minister gave details of the Rs 20 lakh crore economic relief package to help the economy recover from the coronavirus pandemic. Key Highlights: 1. Repo rate reduced by 40 bps to 4% 2. Private consumption impacted most by COVID-19 3. Food inflation […]...
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Q.1 Which types of cards are allowed for withdrawing cash at PoS terminals? Ans. Under the facility of cash withdrawal at PoS terminals, cardholders can withdraw cash using their debit cards and open system prepaid cards issued by banks in India. However, credit cards cannot be used under this facility. Cash can also be withdrawn at [&he...
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VV.BP.No. 8124/21.04.048/2019-20 -
(06/05/2020) -
We advise that as per the circular dated April 17, 2020 on asset classification and provisioning, in respect of all accounts classified as standard as on February 29, 2020, even if overdue, the moratorium period, wherever granted, shall be excluded by the lending institutions from the number of days past-due for the purpose of asset class...
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ICSI made a representation to RBI GOvernor requesting Relaxation from compliance with provisions of Foreign Exchange Management Act, 1999 (FEMA) due to the COVID-19 pandemic. Text of the Same is as follows:- Institute of Company Secretaries of India ICSI:PFP: 2020 April 16, 2020 Shri Shaktikanta Das Governor Reserve Bank of India Central ...
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RBI announces second set of measures to preserve financial stability and help put money in the hands of the needy and disadvantaged States and UTs allowed to borrow more to manage COVID-19 Reverse Repo rate reduced from 4.0% to 3.75% Relief provided to NBFCs and Real Estate Sector We will cure and endure, India is […]...
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Governor’s Statement, April 17, 2020 Today, humanity faces perhaps the trial of its time as COVID-19 grips the world in its deadly embrace. Everywhere, as also in India, the mission is to do whatever it takes to prevent epidemiological curve from steepening any further. Human spirit is ignited by the resolve to overcome the pandemic. [&...
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Press Release: 2019-2020/2186 -
(08/04/2020) -
In order to provide greater flexibility to the State Governments to tide over their cashflow mismatches, RBI, on a review, has decided to
a. increase the number of days for which a State/ UT can be in overdraft continuously to 21 working days from the current stipulation of 14 working days....
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Furthermore, Branch Statutory Auditors should conduct the audit operations from a remote location primarily relying on the data available in CBS and they should physically visit the branches only for urgent and unavoidable matters....
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Lock down and suspension of public transport services has been announced by many Local authorities/State Governments to curtail the spread of COVID 19 across various geographies. Keeping this in view , after due deliberation, it is suggested that Member Banks may selectively keep their branches open at such locations after due consult...
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