The Reserve Bank of India Governor Shaktikanta Das will be addressing the media at 10 am today amid the reports on extension of moratorium on payment of all term loans.
“Watch out for RBI Governor live address at 10:00 am today (May 22, 2020),” RBI said in a tweet.
In March, RBI had allowed a three-month moratorium on payment of all term loans due between March 1, 2020 and May 31, 2020.
With the centre extending the nationwide lockdown up to May 31, the RBI is likely to extend the moratorium on repayment of loans for three more months, said a recent SBI research report.
“With the lockdown now extended up to May 31, we expect RBI to extend the moratorium by three months more,” SBI’s research report- Ecowrap said.
The centre also recently announced a Rs 20 lakh crore economic stimulus package in a bid to deal with the fallout of COVID-19 crisis that included Rs 8 lakh crore of liquidity measures announced by the Reserve Bank since March.