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RBI allows One-Time Restructuring of Loans, Know How Borrower and Business will Benefit

You can now borrow up to 90% of value pledged against Gold and Jewellery

GST Portal upgraded to handle 3 lakh users

Extension of due date to file Audited Accounts of Trust and NGOs to 30th October 2020

RBI Monetary Policy 6 Aug 2020 Highlights

The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) is set to announce its decision on interest rates. Reserve Bank of India hits pause button, keeps interest rates unchanged at bimonthly monetary policy review

Repo rate remains unchanged at 4%

Reverse repo rate also remains unchanged at 3.3%

Real GDP growth to remain in negative zone in 1st half and in full fiscal,

Exports contracted for 4th successive month, though pace of contraction fell. Supply chain disruptions persist with implications on prices of food & non-food items

Taking into consideration all factors, the GDP growth in the first half of the year is estimated to remain in the contraction zone. For the year 2020-21 as a whole, real GDP growth is also estimated to be negative

Marginal Standing Facility Rate and bank rate unchanged at 4.25%

Space for further monetary action is available but advisable to be judicious. 250 bps rate cut is working through the system

RBI is perhaps the only central bank in the world which has set up a special quarantine facility for continuity of critical operations.

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