Wednesday, July 15, 2020

Block title

Block title

Block title

Block title

Big Story

Samsung Galaxy M01 review

Block title

Block title

Block title

Block title

Block title

Block title

Block title

Good news! Loans get cheaper, and existing EMI gets extended moratorium.

Must read

Comparison of the two giants – The OnePlus 8 Pro and the Mi 10 5G

The OnePlus 8 Pro and the Mi 10 5G from Xiaomi are both superb worth lead offerings, yet in the event that...

XIAOMI MI 10 DETAILED REVIEW – phone worth the hype!

The Xiaomi Mi 10 is the company's third endeavor to break into the superior segment, subsequent to being missing from it for...

iPhone 11 Pro and Pro Max review

The iPhone 11 Pro and 11 Pro Max are continuations of the iPhone XS and iPhone XS Max - if there was...

Reserve Bank of India (RBI) Governor Shaktikanta Das has announced a reduction in the repo rate to 4 percent and an extension of three months on loan moratorium,n a move to ease the financial stress on the nation caused by the Covid-19 pandemic and lockdown for over two months.

Reducing the repo rate that results in the reduction in the key interest rate at which RBI lends money to commercial banks will lessen their burden on the loan moratorium or delayed EMI payments. To balance out to the reverse repo rate has been pulled to 3.35 percent from the existing 3.75 percent.

According to the governor, the GDP growth is expected to remain in the negative territory for the current financial year and headline inflation will only ease in the latter half of the year.

The central bank rolled out these measures and, in future more monetary, fiscal, and administrative measures to improve the functioning of markets, to support exports and imports, to ease the financial stress on state governments and to give better access to working capital. The apex bank believes these measures will help in the gradual revival of the Indian economy.

Five members of the Monetary Policy Committee (MPC) voted in favor of rate reduction, said Das in the video address.

The World Economic Forum after conducting a survey recently and said that the world would witness a prolonged global recession with bankruptcies, failure o industries, and a spike in unemployment. In India, the RBI governor shared, industrial production shrank by 17% in March, while exports were all-time low in the last 30 years.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Comparison of the two giants – The OnePlus 8 Pro and the Mi 10 5G

The OnePlus 8 Pro and the Mi 10 5G from Xiaomi are both superb worth lead offerings, yet in the event that...

XIAOMI MI 10 DETAILED REVIEW – phone worth the hype!

The Xiaomi Mi 10 is the company's third endeavor to break into the superior segment, subsequent to being missing from it for...

iPhone 11 Pro and Pro Max review

The iPhone 11 Pro and 11 Pro Max are continuations of the iPhone XS and iPhone XS Max - if there was...

Samsung Galaxy S10e review

The Samsung Galaxy S10e resembles a much-needed refresher in a world of behemoth smartphones with enormous displays. To be honest, we didn't...