Some of the RBI Governor’s announcement made on 22 May 2020 on account of Covid-19 pandemic are:
- A cut in the repo rate to 4% from 4.4%. This reduced rate marked the lowest repo rate since 2000.
- A cut in reserve repo rate to 3.35% from 3.75%.
- Moratorium period is further extended from 1st June to 31st August. Entire interest accumulated during the moratorium period would be converted as a new Term Loan.