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MSME borrowers eligible for debt restructuring under existing framework: RBI
The Reserve Bank of India (RBI) on Thursday said that MSME (micro, small and medium enterprise) borrowers will be eligible for restructuring their debt under the existing framework, provided their accounts with the concerned lender were classified as standard as on March 1, 2020.
Inflation likely to be elevated in second quarter: RBI Governor
The Reserve Bank of India (RBI) on Thursday said inflation is expected to be at elevated levels during the second quarter, but may ease in the second half of the current fiscal year.
Supply chain disruptions persist, resulting in inflation pressures across segments, RBI Governor Shaktikanta Das said while announcing the decisions taken by the central bank’s Monetary Policy Committee (MPC).
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RBI sets up panel under KV Kamath for one-time restructuring of loans
The RBI has decided to provide a window under the June 7 Prudential Framework to enable lenders to implement a resolution plan in respect of eligible corporate exposures — without a change in ownership — as well as personal loans, while classifying such exposures as standard assets.
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Loans against gold enhanced to 90% of the value from current 75% to mitigate COVID-19 impact on households.
Priority sector lending status extended to start-ups.
RBI allows lenders to provide window to restructure loans of corporate, individual borrowers to ease COVID-19 impact
Stressed MSME borrowers to be eligible for restructuring of debt if their accounts were classified standard: RBI Governor
The reverse repo rate will also continue to earn 3.35 per cent for banks for their parked deposits kept with the RBI.
Global economic activity has remained fragile; surge in COVID-19 cases has subdued early signs of revival, says RBI Governor. Economic activity had started to recover, but surge in infection has forced imposition of lockdowns, says RBI Governor Das.
Supply chain disruptions persist; inflation pressures evident across segments, says RBI Governor Das.
Monetary Policy Committee expects inflation to remain elevated in Q2, ease in second half of fiscal, says RBI Governor.
India’s economic growth to contract in first half of fiscal beginning April 2020, says RBI Governor Das.
RBI keeps repo rate unchanged at 4%
The Monetary Policy Committee (MPC) of the Reserve Bank of India on Thursday decided to put a pause on further rate cut for now in the latest bi-monthly monetary policy review.
“MPC voted unanimously to leave the policy repo rate unchanged at 4per cent and continue with the accommodative stance to revive growth and mitigate the impact of Covid 19 while ensuring that inflation remains within target going forward,” RBI Governor and Chairman of MPC Shaktikanta Das said after the meeting.
Reverse repo rate kept unchanged at 3.35%
*MSF rate, Bank rate unchanged at 4.25%
* RBI Governor says Read GDP Growth to remain negative
* MPC maintains accommodative stance
* Inflation pressures evident across all sectors in June
*MPC expects Infation to remain elevated in Q2 2021
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