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Reserve Bank of India /RBI - COVID-19 - Relief Measures


  • Reserve Bank of India (RBI) has reduced the Repo Rate by 75 basis points to 4.4% and Reverse Repo Rate by 90 basis points to 4%.  
  • CRR of all banks is to be reduced by 100 basis points to 3% with effect from 28 March for one year. 
  • All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions), that is, lending institutions, are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020.            
  • In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are being permitted to allow a deferment of three months on payment of interest in respect of all such facilities outstanding as on March 1, 2020. The accumulated interest for the period will be paid after the expiry of the deferment period. Also, the moratorium on term loans and the deferring of interest payments on working capital will not result in asset classification downgrade. Notification - RBI Relief Measures, RBI - Developmental and Policy Statement 27Mar2020


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