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RBI Governor Full Statement After Monitory policy Committee #War on Corona
reduced the interest rate repo rate on lending to cheap banks by a whopping 75 basis points (100 basis points). With this the rate fell to 4.4%. In the wake of the Covid-19 impact, some 43 central banks, including the US Central Bank Fed, the European Central Bank and the Bank of England, have taken a decision to cut rates in the face of international financial uncertainty and slowing trends. The RBI has reduced the repo rate by 135 basis points to five consecutive times since February 2019 (except the last two times).
. This brought the rate down to 4 percent. The instrument’s objective is to encourage banks to reduce their interest in the market and to give them interest in the market due to the low interest rates on their funds.
RBI has reduced the Cash Reserve Ratio (CRR) by one percent and CRR by one percent. This has brought the rate down to 3 percent. Banks must keep the new amount in their deposits at RBI. RBI does not pay any interest on this. This rate cut will result in the availability of additional funds at banks. This is the first time in seven years that RBI has reduced the CRR.
Due to various decisions taken by the RBI, the banking system will have a cash flow of Rs. This includes a repo operation which costs Rs. Lakhs of crores come into the system. The total amount of money coming into the financial system through CRR is Rs 1.37 lakh crore.
State Bank of India (SBI) has made a major decision in the wake of SBI’s RBI policy announcement. A total of 75 basis points will be transferred to the customer from April 1, the company said in a statement.
In the wake of the SBI decision, the External Benchmark Consolidated Annual Lending Rate (EBR) will come down to 7.05% from the current 7.8%. The repo-based lending rate (RLLR) will fall from 7.40% to 6.65%. Accordingly, the home loan rate for the next 30 years will fall to Rs 52 lakh per month on EMI, the statement said. The Bank’s Asset Liability Committee (ALCO) will make a decision on the Fund’s Cost-Based Debt Rate (MCLR) next month.
all time- limited retail and bulk deposit rates in the range of 20 to 100 basis points. While the rate on retail deposit decreased from 20 basis points to 50 basis points, the rate on bulk deposit fell by 50 to 100 basis points.
RBI gives customers a big advantage over the monthly payment (EMI) of term loans (agricultural, housing, education, personal and vehicle) including credit card payments. The three-month moratorium on the loan payments gave financial institutions the option to make a decision. Maratorium time is not considered by default and dull. “The Maratorium will be in effect on all loan payments between March and May. This applies to all categories of retail and corporate debt, including credit card dues.
► Banks have to decide on Maratorium rules.
► In a sense it is a deferral of the loan payment and should be strictly curtailed later. The EMI term may be increased according to the terms of the respective banks or the interest may be adjusted to cover the rest of the term in the Maratorium period. Banks need to be clear on this.
RBI has made it clear that credit card dues and EMIs also apply to the three-month marathoner. To that extent the dues can be paid after three months. However, the interest on the original continues to be heavy for the entire time. For example the original cut is Rs. 10,000, however, the interest is calculated on the deferred first month. This is a tax. Also, in the second month there will be additional interest and taxes on the original, plus interest. Repeat this for the third month. In the fourth month (after the Maratorium), the accumulated arrears will be deducted at once, including interest and taxes.
. If banks also cut rates in line with RBI policy, loans become cheaper. However, the
Reserve Bank of India has reduced the base rate by 75 basis points (one basis point ie 0.01%). With this, the repo-rate-linked home borrower … can significantly reduce the interest rate burden. For example, an annual interest rate of 8% is Rs. 50 lakhs and their EMI burden is around Rs. 2,139 may be reduced. However, with the SBI already cutting the lending rate by 0.75%, other banks are following suit.
► Usually banks are offering floating rate loans on a repo rate basis from 1 October 2019. So banks will have to transfer those benefits to customers to the extent that the RBI has reduced it. The marginal cost of funds (MCLR) based interest rate is also reduced for those who have borrowed. If you do not enjoy full benefits, you may have to pay a one-time administration fee .. It is better to switch to repo rate based home loans. Since banks are shrinking … Housing Finance Companies (HFCs) have the potential to reduce their competitiveness.
Maratorium. The Maratorium is meant to give creditors a little leeway during a crisis. Revenues are likely to fall with the lockdown announced for the corona virus outbreak. This can make it difficult for borrowers to pay EMIs. Considering this, the RBI has announced a moratorium on temporarily delaying the payment of EMIs for 3 months. If the EMI is not paid till May, the bank will not consider you a defaulter. There is no damage to your credit score.
2019-20 financial year, the gross domestic product (GDP) growth rate of 5 per cent. This rate was 4.7% in the January-March quarter. The global economic slowdown has a profound impact on the country’s economy. The fall in crude oil prices, however, is a boost to the economy. The positive impact of the liquidity initiatives and the corona tightening are a guide to future growth in the country. Due to record-breaking food prices, food prices remain in control.
– Shaktikantha Das, RBI Governor
, the central bank measures to protect the economy from the impact of coronavirus. Increase the cash availability in the system. Fundraising costs are reduced. RBI decisions help middle class people and traders.
– Narendra Modi, Prime Minister
. Governor’s statement that India’s economy is strong The Maratorium is a big boon on the payment of dues.
– Nirmala Sitharaman, Finance Minister
the economy, the protection of human attitude and adventurous, harsaniya decisions taken by the central bank. Up to Rs. 60,000 crores in the case of SBI is likely to come under the Maratorium.
– Rajneesh Kumar, SBI Chairman
Rajouri terrorist attack: Two armed terrorists fired indiscriminately around 7:00 p.m. this Sunday in the Upper Dangri area of Rajouri, Kashmir, killing four people. Six others were injured in the attack. According to eyewitnesses, both terrorists attacked 3 minority houses near the temple in the Upper Dangri area, 8 km from Rajouri.
Eyewitnesses say that the terrorists allegedly attacked three houses here after seeing the Aadhaar card. Those killed in the attack have been identified as Pritam Sharma, his son Ashish Kumar, Deepak Kumar and Sheetal Kumar.
2 wounded were airlifted
Of the 6 people injured in this terrorist attack, 2 have been airlifted to Jammu. Several political and social organizations have called a bandh on Monday in Rajouri to protest against the attack. On the other hand, the security forces have carried out an exhaustive search operation in the area since Sunday night to arrest the terrorists.
condemned political parties
Where the Bharatiya Janata Party has resolved to eliminate terrorism from the Union Territory. At the same time, Congress called the incident “very serious” and exposed the government’s claims to improve the security situation in the Union Territory.
Congressional goal of government
The Congress spokesman said: “Congress strongly condemns the terrorist attack in Rajouri. The incident is very serious and shocking. It exposes the government’s claims to improve the security situation in the Union Territory.” The spokesman further said that the government has failed to protect minorities, first in Kashmir and now in Jammu.
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poplarsAgriculture is the economic backbone of the country. A large population is associated with this profession to carry out their daily lives. Wheat, corn, rice, oilseeds, legumes are the traditional crops. Farmers earn by planting them. Farmers also earn lakhs of rupees from horticultural crops. Experts say that in addition to traditional crops, farmers can earn thousands of rupees in profit. Today we are going to talk about such a crop. The cultivation of popular trees has increased in the country. People are demanding this not only in the country but in the world. The wood of this tree is sold at a high price in the market.
Popular needs that land
It is necessary to have a fertile soil for poplar plants. Planting trees in agriculture with organic elements improves agriculture. Poplar plants should not be planted in soil that is alkaline in nature. The pH value of the soil should be between 5.8 and 8.5. The temperature should be 18 to 20 degrees for planting. Popular trees grow well at a maximum temperature of 45 degrees and a minimum of 10 degrees. Tree development is best in a minimum temperature of 10 degrees and a maximum temperature of 45 degrees.
Plant a popular tree like this
Poplars have deep roots. Deep plowing is fine for this. Leaving water in the field after plowing. After getting out of the water, plow the field two or three times with a rotavator. After this, level the field with the machine. There must be a distance of 5 meters while preparing the line on the field. Transplant the plants in rows 5-6 meters apart into prepared 1-meter-deep holes. Popular trees are good from January to February. The period between February 15 and March 10 is best for transplanting poplars.
You can earn 10 lakh rupees on one hectare
Poplar saplings are not very expensive. But when it comes to selling, its price is very high. Experts say that the price of wood from popular trees is 700 to 800 rupees per quintal. 250 trees can be planted on one hectare. The average height of a tree is about 80 feet. One can earn up to Rs 8-10 lakh from a popular tree in 1 hectare. In the country, a large number of farmers from Bijnor of Uttar Pradesh are involved in the cultivation of folk. Popular countries and abroad can be shipped from here.
Disclaimer: Some of the information provided in the news is based on media reports. Brother farmers, before implementing any suggestion, consult the expert in question.
Also read this: foreigners are also crazy about this purple potato… Demand is increasing rapidly, you will be surprised to learn about the benefits.
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IND vs SL 1st T20 Playing XI & Pitch Report: 3 series of T20 matches will be played between India and Sri Lanka. After this T20 series, an ODI series will be played between the two teams. However, the first match of the 3 T20 series will be played on Tuesday at the Wankhede Stadium in Mumbai. The captain of the Indian team in this series will be the versatile Hardik Pandya. Earlier, the India team had to face defeat in the semi-final match of the T20 World Cup. Apart from this, Sri Lanka’s performance in this tournament was also disappointing.
Will Wankhede’s wicket be friendly?
The first T20 match of the series between India and Sri Lanka will be played at Wankhede Stadium in Mumbai. Speaking of the Wankhede wicket, it’s a great wicket to bat at. After landing on this pitch, the ball comes to bat fast. Because of this, he is easy to hit. Apart from this though, there is help for the bowlers at the Wankhede wicket. Especially, fast bowlers get help at the wicket from Wankhede. Apart from this, fast bowlers get swing and good movement.
Possible XI of Team India for the first match of T20-
Ishan Kishan (week), Shubman Gill, Suryakumar Yadav, Deepak Hooda, Hardik Pandya (c), Sanju Samson, Washington Sundar, Harshal Patel, Yuzvendra Chahal, Arshdeep Singh and Umran Malik
Sri Lanka’s possible XI for the first match of T20-
Pathum Nissanka, Kusal Mendis (week), Avishka Fernando, Charit Aslanka, Bhanuka Rajapaksa, Dasun Shanaka (c), Wanindu Hasaranga, Chamika Karunaratne, Mahesh Theekshana, Lahiru Kumara and Dilshan Madushanka
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