Industry expects a status quo on benchmark rate on account of uncertainty over the impact of Covid second wave
Growth in loans to micro and small industries accelerated to 3.8 per cent in April this year as compared to a contraction of 2.2 per cent a year ago.
The Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online.
Creating safe working zones is necessary, for it is not possible to perpetually fear and abstain from livelihood activities
The stock markets are mainly driven by money supply and foreign portfolio investor (FPI) investments, the apex bank said.
Moratorium should be extended up to March 2022 on all EMIs of term loans as well as interest on cash credit accounts.
The waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020 may put stress on banks' financial health.
It also suggested to re-consider severe restrictions on capacity and eligibility requirements, limit on number of audits.
Painting a rosy picture based on April's GST collections could be a miscalculation as all indicators point to a grim picture of the economy
Earlier this month, the governor had announced a slew of measures, including term liquidity facility of Rs 50,000 crore to ease access to emergency health services.
It is up to the Centre now to complement RBI’s efforts to revive the economy with appropriate policy interventions
Banks desirous of deploying their own resources without availing funds from the RBI under the scheme for lending to the specified segments mentioned above will also be eligible for the incentives.
Banks may deliver these loans to borrowers directly or through intermediary financial entities regulated by the RBI.
Borrowers that are individuals and micro, small and medium enterprises (MSMEs) having an aggregate exposure of up to Rs 25 crore would be considered for the new scheme.
However, non-deposit taking NBFCs with asset size below Rs 1,000 crore have the option to continue with their extant procedure.
- Advertisement -