{"id":21448,"date":"2020-03-31T11:34:14","date_gmt":"2020-03-31T06:04:14","guid":{"rendered":"https:\/\/ensembleias.com\/blog\/?p=21448"},"modified":"2020-03-31T11:34:14","modified_gmt":"2020-03-31T06:04:14","slug":"rbi-loan-emis","status":"publish","type":"post","link":"https:\/\/ensembleias.com\/blog\/rbi-loan-emis\/","title":{"rendered":"RBI &#8216;s historic decision, Relief provided in Loan EMIs 3 month"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><h3><strong>RBI\u2019s historic decision, Relief provided in Loan EMIs: RBI has cut the repo rate by 75 bps therefore decreasing it from 5.15% to 4.40% now. Due to this banks will be able to get loans from the RBI at a low rate of interest.<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">This decision of RBI has provided a huge relief to the banks amidst the coronavirus pandemic. This move comes in the wake of economic damage done by the coronavirus pandemic. RBI has announced a series of measures to fight the crisis. So, relief is provided in all loans. RBI has allowed a three-month moratorium on all outstanding loans. Consequently, no EMI will be deducted from the accounts during this three month period.\u00a0<\/span><\/p>\n<h3><strong>EMIs will resume after the moratorium period.\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-21451\" src=\"https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/2020\/03\/governor-shaktikanta-das-448x252.jpg\" alt=\"rbi-governor-shaktikanta-das\" width=\"445\" height=\"250\" srcset=\"https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/governor-shaktikanta-das-448x252.jpg 448w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/governor-shaktikanta-das-1024x576.jpg 1024w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/governor-shaktikanta-das-150x84.jpg 150w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/governor-shaktikanta-das-768x432.jpg 768w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/governor-shaktikanta-das.jpg 1200w\" sizes=\"auto, (max-width: 445px) 100vw, 445px\" \/>RBI has also said that this move will have no effect on the rating of the creditor, i.e. the credit history (or the credit score) of the borrower. It has also advised banks to provide discounts on the EMI, it is expected that such an announcement will be made by banks very soon. This information has been provided by RBI governor Shashikant Das in a press conference.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\"><strong>Also Read<\/strong>: <\/span><a href=\"https:\/\/ensembleias.com\/blog\/artificial-intelligence\/\">Artificial Intelligence<\/a><\/h4>\n<h3><b>Key Points<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI has cut the repo rate by 75 bps therefore the current repo rate stands at 4.40% which was 5.15% previously. This will allow the banks to take loans from RBI at a cheaper rate.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI has also reduced the reverse repo rate by 90 basis points. Thus, the reverse repo rate stands at 4% now. Reverse repo rate is the rate at which RBI takes loans from banks on short term.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Banks and NBFCs have been provided with a 3 month moratorium allowing them relief to return the loan for 3 months.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI has cut the cash reserve ratio (CRR) by 100 basis points reducing it to 3%. This has been done for a period of one year. This will add 1.37 lakh crore rupees liquidity in the country\u2019s banking system.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI governor once again emphasised on using digital banking and payments. He also said that in these testing times, every possible safety measure must be undertaken.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI has said that the Marginal Standing Facility Cap (MSF) has been increased from 2% to 3% as well as the Net Funding Ratio rule is being delayed for next 6 months.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">RBI has reduced Liquidity adjustment facility (LAF) by 0.90 to $% now. This will clear the way for more liquidity in the system.<\/span><\/li>\n<\/ul>\n<p><b>What is meant by Repo Rate &amp; Reverse Repo Rate?<\/b><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-21454\" src=\"https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/2020\/03\/rbi-1-448x252.jpg\" alt=\"rbi\" width=\"448\" height=\"252\" srcset=\"https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/rbi-1-448x252.jpg 448w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/rbi-1-150x84.jpg 150w, https:\/\/ensembleias.com\/blog\/wp-content\/uploads\/sites\/2\/2020\/03\/rbi-1.jpg 715w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/>The rate at which RBI lends loans to other banks is called Repo Rate. on the basis of this rate only, the banks provide loans to customers. Low repo rates provide a huge relief to the banks. This benefit can be then passed on to customers like you and me.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, Reverse repo rate is the rate at which RBI borrows from other banks. Also, it is the rate at which commercial banks receive interests on their funds deposited with the RBI.<\/span><\/p>\n<h3><b>Author:-<\/b><span style=\"font-weight: 400;\"> Suramya Sharma<\/span><\/h3>\n<p>For more details : Ensemble IAS Academy Call Us : +91 98115 06926, +91 7042036287<\/p>\n<p>Email:\u00a0<a href=\"mailto:ensembleias@gmail.com\">ensembleias@gmail.com<\/a>\u00a0Visit us:-\u00a0<a href=\"https:\/\/ensembleias.com\/\">\u00a0https:\/\/ensembleias.com\/<\/a><\/p>\n<p><span style=\"font-weight: 400;\">#repo_rate #reverse_repo_rate #RBI #LAF #MSF #blog #geography_optional #upsc2020 #ias #<a href=\"http:\/\/ksiddhartha.com\">k_siddharthasir<\/a> #Government_of_India #india #studyabroad #geography #upsc #bhugol #government #news #dailynews #gk #dailyquiz #editorial<\/span><\/p>\n<h3><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>RBI\u2019s historic decision, Relief provided in Loan EMIs: RBI has cut the repo rate by 75 bps therefore decreasing it from 5.15% to 4.40% now. Due to this banks will be able to get loans from the RBI at a low rate of interest. This decision of RBI has provided a huge relief to the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":21450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[522,260,329,241,382,318,246,521,507,520,523,509,232,286],"class_list":["post-21448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-bank","tag-ensembleias","tag-government","tag-govt","tag-india","tag-issues","tag-life","tag-loan","tag-national-security","tag-rbi","tag-repo-rate","tag-social_media","tag-targets","tag-upsc2020"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RBI &#039;s historic decision, Relief provided in Loan EMIs 3 month -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ensembleias.com\/blog\/rbi-loan-emis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI &#039;s historic decision, Relief provided in Loan EMIs 3 month -\" \/>\n<meta property=\"og:description\" content=\"RBI\u2019s historic decision, Relief provided in Loan EMIs: RBI has cut the repo rate by 75 bps therefore decreasing it from 5.15% to 4.40% now. 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