The quake was at a depth of 503.2 km
asia2 hours ago
The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of Covid-19 induced countrywide lockdown.
RBI Governor's address https://t.co/lgJvUP91iE
- ReserveBankOfIndia (@RBI) May 22, 2020
Three-month moratorium we allowed on term loans&working capitals we allowed certain relaxations. In view of the extension of the lockdown&continuing disruption on account of #COVID19, these measures are being further extended by another 3 months from June 1 to Aug 31: RBI Guv pic.twitter.com/YKulKb9bD0
- ANI (@ANI) May 22, 2020
The Group Exposure Limit of banks is being increased from 25% to 30% of eligible capital base for enabling the corporates to meet their funding requirements from banks. The increased limit will be applicable up to 30th June, 2021: RBI Governor Shaktikanta Das pic.twitter.com/J5rDTAyULV
- ANI (@ANI) May 22, 2020
Besides, the Apex bank took other major decisions keeping in mind the devastating economic impact of Covid-19 pandemic. In one such decision, the Reserve Bank extended the moratorium on interest payments on all term loans for another three months.
It also allowed for repayment of accumulated interest on account of the moratorium through FY21.
Furthermore, Governor Das noted that pandemic has had a crushing blow to the demand.
"High frequency indicators points to collapse in demand in March, the Governor said.
Das observed that investment demand has virtually been halted. He, however, said that agriculture.
He added the MPC will maintain accommodative stance, therefore, leaving further for more policy action.
The quake was at a depth of 503.2 km
asia2 hours ago
The defending champions overpowered TP Mazembe from the Democratic Republic of Congo 3-0 in Cairo
sports3 hours ago
Although the Gunners are top as they chase a first title for 20 years, Manchester City are regarded as statistical favourites to win a fourth successive crown
sports3 hours ago
Doctors urge residents to take such situations seriously: 'Sharp objects can pierce the food pipe and can migrate into areas like the chest, causing further complications,' an expert says
uae3 hours ago
Highly-rated 19-year-old Turkish midfielder Arda Guler scores match-winner on his first La Liga start
sports3 hours ago
The special incentive allows eligible companies to obtain interest-free loans of a maximum of Dh300,000 with a grace period of 6 to 12 months
business3 hours ago
We matchmade people within the same buildings so they could stay safely inside and share resources, Rana Hajirasouli, founder of the company, said
uae4 hours ago
After a gap of nine years, the National side will play in the premier T20 tournament scheduled to be jointly hosted by the UAE and Oman
sports4 hours ago