EMI

Reserve Bank of India imposes monetary penalty on State Bank of India

SBI’s BIG DECISION ON EMI AFTER ANNOUNCEMENT OF RBI. CUSTOMERS WILL GET RELIEF

The RBI made several important announcements on Friday to save the economy from the Corona Crisis. SBI has also made a big announcement regarding EMI. SBI has deferred three installments of EMI of borrowers. For this, the customer does not need to apply to the bank. At the same time, the situation is not clear …

SBI’s BIG DECISION ON EMI AFTER ANNOUNCEMENT OF RBI. CUSTOMERS WILL GET RELIEF Read More »

RBI RELAXATION DUE TO COVID-19 PANDEMIC

(1.) Targeted Long Term Repos Operations (TLTROs) : Reserve Bank will conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to Rs. 1,00,000 crore at a floating rate linked to the policy repo rate. (2.) Repo rate reduce – Repo rate cut by …

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RBI CLARIFICATION : NOT JUST EMI, CREDIT CARD DUES WILL ALSO BE COVERED UNDER THREE MONTHS MORATORIUM

The Reserve Bank of India has clarified that all lending institutions are permitted to grant a moratorium of three months on payments of all installments on term loans, including credit cards. The RBI on Friday (Mar 27) announced that all banks will be permitted to allow a three-month moratorium on payment of installments of all …

RBI CLARIFICATION : NOT JUST EMI, CREDIT CARD DUES WILL ALSO BE COVERED UNDER THREE MONTHS MORATORIUM Read More »

RBI’S EMI MORATORIUM : WILL MY INSTALLMENT BE DEDUCTED? ARE CREDIT CARD BILLS SUSPENDED? AND OTHER QUESTIONS ANSWERED

>> The RBI today allowed banks to offer a moratorium on all term loans. >> The step was taken in light of the COVID-19 outbreak and the subsequent lockdown. The Reserve Bank of India (RBI) today allowed all financial institutions to allow a three-month moratorium for all term loans in light of the COVID-19 outbreak …

RBI’S EMI MORATORIUM : WILL MY INSTALLMENT BE DEDUCTED? ARE CREDIT CARD BILLS SUSPENDED? AND OTHER QUESTIONS ANSWERED Read More »