COVID-19 effect - Mr. Shaktikanta Das | says NO..
Mr. Shaktikanta Das has told that RBI giving a green signal to DEFER LOAN repayment for 3month the ball is in the bank court to pass on the benefits to people many of whom have been affected to due job loss and salary cuts in wake of COVID-19 crisis.... In a move aimed at mitigating the impact of the coronavirus outbreak on businesses and employees in India, the Reserve Bank of India on Friday asked all banks and other lending institutions to allow a three-month moratorium on all kinds of loans. The RBI also said that moratorium on term loans and deferment of interest payment would not result in asset classification downgrade. With the RBI giving a green signal to defer loan repayment for three months, the ball is in the banks' court to pass on the benefit to people, many of whom have been affected to due job loss and salary cuts in wake of COVID-19 crisis. The apex bank also said all lending institutions and banks had been allowed to defer interest on working capital rep...
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