After today's rate cut, it remains to be seen how much impact with the recent rate cuts, it will have on the home loan and other borrowers.
The credit history of the borrower will not be impacted The RBI today cut repo rate by 75 basis points and also cut cash reserve ratio by 100 basis points
The rate cut was warranted by disruptive force of coronavirus, the central bank said.
RBI has made a one-time exception in view of the financial distress arising out of the global pandemic coronavirus and the economic havoc wreaked by the lockdown imposed to control its spread.
What happens to your EMI burden? Which kinds of loans will the moratorium apply to? What about the interest component? Read on
The FM announced a slew of measures to ease the burden on the poor who will be hit hard by the lockdown.
This will be applicable for establishments with up to 100 employees, where 90% of employees drawing less than Rs 15,000 salary. Benefiting 4.8 crore employees the govt also amended EPFO regulations to allow workers under EPFO to draw up to 75% of their non-refundable advance or 3 months of wages, whichever is lower.
The Finance Minister Nirmala Sitharaman in a press conference has announced that the last date for filing tax returns has been extended.
PAN-Aadhaar Link Deadline: The last date for PAN-Aadhaar linking has been extended