- In an official announcement, RBI Governor Shri Shaktikanta Das said the Reserve Bank of India will allow a 3-month moratorium on EMI payments. It will help all home buyers, vehicle buyers, and other customers.
- According to RBI, It will reduce the interest burden on businesses and industries and will boost economic activities.
- Reserve Bank Of India (RBI),
- RBI is India's central bank of India that was established in 1st April 1935. Its HQ is in Mumbai, Maharashtra.
- The functions of RBI are to overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank for government and as a banker of scheduled commercial banks.
Published On : 27 Mar 2020
Current Affair
