RBI Extends Moratorium On Loans For Another 3 Months, Has Grim Growth Outlook On Indian Economy

The Reserve Bank of India announced relief measures to ease the financial burden on Indians as the country lives through its phase 4 of the Coronavirus lockdown. RBI Governor Shaktikanta Das announced a reduction in the repo rate to 4%. The RBI Governor also announced an extension on loan moratorium - which allows banks to defer EMI payments from customers - by another three months till August 31, 2020.

(The above story first appeared on LatestLY on May 22, 2020 03:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).