Discover and read the best of Twitter Threads about #rbitoday
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#rbigovernor PC
- MPC voted in 5:1 ratio
- Repo rate reduced by 40bps from 4.4% to 4%
- Reverse repo rate cut to 3.35% from 3.75%
- Global economy headed into recession, with mfg PMI at 11 yr low
- Growth rate of EMs expected to be 2.6% to negative 6%.
#RBI #economy #India
- MPC voted in 5:1 ratio
- Repo rate reduced by 40bps from 4.4% to 4%
- Reverse repo rate cut to 3.35% from 3.75%
- Global economy headed into recession, with mfg PMI at 11 yr low
- Growth rate of EMs expected to be 2.6% to negative 6%.
#RBI #economy #India
- MPC maintaining accommodating stance till growth revives
- Prodn of most sectors declined rapidly, industrial production shrank by 17%
- Food grain prodn at record, normal monsoon expected
- Kharif sowing higher by 44%, Rabi procurement in full flow
- Farm incomes to improve;
- Prodn of most sectors declined rapidly, industrial production shrank by 17%
- Food grain prodn at record, normal monsoon expected
- Kharif sowing higher by 44%, Rabi procurement in full flow
- Farm incomes to improve;
- Merchandise exports plunged 60.3%, imports contracted by 58.6% (worst in many yrs) in Apr
- Reserves increased & at US$487 bn
- Inflation could increase due to supply chain issues; reappraisal of import duties needed
- EM economies expected to face further outflows
#RBItoday
- Reserves increased & at US$487 bn
- Inflation could increase due to supply chain issues; reappraisal of import duties needed
- EM economies expected to face further outflows
#RBItoday
@RBI #moratorium of 3 mths of #EMIs on all oustanding term loans as on Mar 1, 2020. Includes all #Banks & #NBFCs. #EMI payments will restart only once the time period expires. A #creditcard #loan is not classified as a #TermLoan. It is basically revolving #credit. @fifaindiaorg
This #EMIHOLIDAY is not a Waiver. Once things are normal the deferred #EMIs have to be paid. It simply won't have a negative effect on #CIBIL score. This will not happen in an automated manner, bank has to approve on the basis of request. #moratorium @RBI #RBItoday #rbigovernor
While #CreditCards are defined as revolving credit & not term loans, as per clarity from @RBI it is clear that credit card dues are also covered. Though this must be avoided if possible. #Moratorium #EMIHOLIDAY
