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RBI extends moratorium on loan repayments by three more months to August 31


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RBI on Friday announced extension of loan moratorium by 3 more months to August 31. Loans on all tenures have now been extended from June 1 till August 31, RBI Governor Shaktikanta Das said. The RBI reduced the repo rate - by 40 basis points from 4.4% to 4% while the reverse repo gets adjusted to 3.35% from 3.75%. Shaktikanta Das addressed a press conference announcing measures to ease the financial stress caused by the COVID-19.