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Amid coronavirus outbreak, RBI loan breather for telcos
Experts though have called on the government to consider a three-month moratorium on operators’ revenue-share commitments for the April-June quarter FY21, which would be more significant relief for the debt-laden telecom sector that is currently reeling under the impact of the adjusted gross revenue (AGR) payments crisis.
No pain, shame if you miss EMIs till May 31
Those who choose to take a three-month break from repayments will also not damage their track rec...
Real estate body asks for deferment of home loan EMI
In order to overcome the impact of the pandemic, NAREDCO has said that it is essential t...
RBI's moratorium on loan EMIs: What we know so far
The RBI today announced a bazooka for borrowers, giving them a three-month moratorium on loan repayment.
Nestle staff to get full salary for three months as COVID-19 halts work
Nestle, the world's biggest food company, said it would pay full salaries to employees affected by work stoppages for a minimum of three months, to protect them from the fallout of the coronavirus pandemic
What 3 month moratorium on repayment of term loans means for borrowers
RBI has allowed lending institutions to offer a moratorium on loan repayments.
FAQ on stimulus checks, unemployment and the Coronavirus bill
The Senate unanimously passed a $2 trillion economic rescue plan Wednesday that will offer assistance to tens of millions of American households affected by the coronavirus. Here are the answers to common questions about what’s in the bill.
Banks offer emergency salary, business loans
Indian Bank MD and CEO Padmaja Chunduru said, “With salaried class and the pensioners, it is more a line to meet their immediate requirements (medical) and other expenditure.”
COVID-19 impact: What RBI's emergency rate cut means for your loans, fixed deposit investors
The RBI, today, cut the repo rate and reserve repo rate by 75 basis points and 90 bps, respectively (100 basis points/bps = 1 per cent). The repo rate now stands at 4.4 per cent and reserve repo rate at 4 per cent.
Coronavirus impact: These banks are offering credit line with softer terms to retail borrowers
Under Canara Bank's new scheme MSMEs, retail borrowers are eligible to avail from 10-35% of their existing working capital or loan limit depending upon category of borrowers on softer terms up to 30.06.2020. No additional security is required for the said facility.
SBI sees around Rs 60K crore repayment getting deferred: Rajnish Kumar
The RBI move is aimed at providing borrowers some relief to borrowers, who are affected by the impact of lockdown on account of COVID-19. "Our term loan book is fairly large and I think Rs 2-2.5 trillion gets paid every year, so for three months it would be Rs 50,000-60,000 crore," the bank's chairman Rajnish Kumar told reporters.
Would have been nice if RBI had announced sector-specific measures: Mythili Bhusnurmath
The government must now come out with serious fiscal measures, says Consulting Editor of ET Now.
Bulls defy India lockdown: Sensex surges 1,862 points; what's behind the rally
The Finance Ministry is working with officials to finalise the stimulus plan.
Indian property developers vow to feed labourers amid lockdown
The Hiranandani Group has organized 15 days of food rations for more than 4,000 labourers across sites. Oberoi Realty Ltd will continue to pay its staff.
Coronavirus Fallout: Microfinance firms are slowing down new loan disbursements in rural heartland
Anticipating liquidity tightness, Microfinance Institutions Network (MFIN), the lobby group for the NBFC-MFIs, has already sought the regulator’s intervention in getting fund support from banks. MFIN has also requested for regulatory forbearance in asset classification and provisioning rules.
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