NEW DELHI: Union minister Prakash Javadekar on Friday said the RBI's measures to help businesses tide over the economic crisis in the wake of the coronavirus outbreak would boost economic activities.
The Reserve Bank of India has asked all lending institutions to allow a three-month moratorium on EMI payments in order to infuse liquidity into the system. It has also allowed banks to defer interest on working capital loans for the next three months
"[email protected] government's historical decisions in succession. Three months moratorium on repayment of #EMI will help all home buyers, vehicle buyers and other customers. #IndiaFightsCorona #StayHomeStaySafe #RBIActs," Javadekar said on Twitter.
"Steps announced by #RBI will reduce interest burden on businesses/industries and will boost economic activities," the Read More – Source