Just after announcement made by finance minister Nirmala Sitaraman regarding Relief fund worth 170,000 crore for fighithing against Corona virus, RBI came forward to give some relief in Your Outstanding Loans Payments. Highlights of Announcements made by RBI Governer on 27-03-2020 is here below-These announcements come just hours after Moody's Investors Service cut India's growth forecasts for 2020 calendar year to 2.5% from 5.3%.

• A moratorium of three months of EMIs on all outstanding loans was announced ( It means if you have any outstanding EMI or your EMI will stand stand due on 1 April or later, You have 90 days relief to Pay that amount. If you don’t pay that amount in april,, there will be no impact on your loan repayment history, i.e. CIBIL, provided you have to make sure that it will paid within 90 days period.
• Governer announced a sizeable reduction in the policy repo rate and maintaining accommodative stance as long as necessary, while ensuring inflation remains within target.
  The MPC decided by 4-2 majority to reduce repo rate by 75 basis points to 4.4 per cent.
• The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.
• Auction of targeted long term repo operations of 3-year tenor for total amount Rs 1,00,000 crore at floating rate.
  — Reduction of CRR for all banks by 100 basis points. Will release Rs 1,37,000 crore across banking system.
  — Accommodation under Marginal Standing Facility to be increased from 2% from SLR to 3% with immediate effect till June 30. It will release Rs 1.37 lakh crore into the system.
  Combined, these three measures will make available a total Rs 3,74,000 crore to the  ..
• After cutting policy rates five times in the past one year, the RBI had been on a pause since December in view of high inflation.
• Governer also assured Indians not to worry about their bank deposits.