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    Dr. Sara George Muthoot receiving the Lifetime Achievement Award from Ambassador Deepak Vohra, Former Indian Diplomat and Special Advisor, at a ceremony held in New Delhi

    Dr. Sara George Muthoot Receives Lifetime Achievement Award

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    Malabar Gold & Diamonds Opens its Showroom at Vaishali Enclave, Pitampura, Inaugurated By Bollywood Star Anil Kapoor

    Coffee Island Debuts in Mumbai with Its First Café at the Iconic Eros Building, Churchgate

    Eugenix Hair Sciences Founders addressing the media with Sonu Nigam

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    Dr. Sara George Muthoot receiving the Lifetime Achievement Award from Ambassador Deepak Vohra, Former Indian Diplomat and Special Advisor, at a ceremony held in New Delhi

    Dr. Sara George Muthoot Receives Lifetime Achievement Award

    10 Transformative Innovations for Climate Action and Planetary Health

    IATA Launches Global Campaign to Help Travelers Fly Safely with Lithium Batteries

    Supercomputing India 2025 Sets the Stage for HPC, AI, and Quantum Innovation

    Global health security hangs in the balance in a volatile and uncertain world, report emphasizes

    MaraK Shoes Announces October 17, 2025 Grand Opening at Faneuil Hall Marketplace

  • National
    • All
    • Economy & Politics
    • Election

    “It’s our way of adding an extra spark to the festive season, making it more joyful and memorable for everyone.”-Ms. Kamakshi Mantri- CSO, Mantri Square Mall

    TTD Approves New Tirupati Temple in Mangaluru: TTD Member S Naresh Kumar

    Malabar Gold & Diamonds Opens its Showroom at Vaishali Enclave, Pitampura, Inaugurated By Bollywood Star Anil Kapoor

    Coffee Island Debuts in Mumbai with Its First Café at the Iconic Eros Building, Churchgate

    Eugenix Hair Sciences Founders addressing the media with Sonu Nigam

    Eugenix Hair Sciences Unveils Its Global Facility for Hair Restoration in Gurgaon

    Jockey India marks a milestone — 1500th Exclusive Brand Store in India

    Jockey Marks Retail Milestone with Launch of 1500th Exclusive Brand store in India

  • Business

    UBS appoints Chief AI Officer to drive its AI strategy

    “I am excited to bring Wipro Intelligence™ to our clients, helping them scale confidently and shape the future in an AI-first world.”-Srini Pallia, CEO & MD.

    Infosys Logo (PRNewsfoto/Infosys)

    Infosys: Quarterly revenue crosses $5 bn mark

  • Health
    Happiest Health Logo

    Happiest Health launches Happiest Ayurveda clinic in Jayanagar, Bengaluru.

    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    Chief Minister Siddaramaiah inaugurated a super specialty hospital in Belgaum.

    Heart Transplant Gives 63-Year-Old Man from Madanapalle a New Lease of Life

    KARNATAKA HEALTH MINISTER DINESH GUNDU RAO LAUNCHES DOCBRELLA.

    Mauritius to Host 2nd International Musculoskeletal Summit (IMS 2.0) 2025

  • Technology
    • All
    • Environment
    • Science

    NTT DATA Enhances Salesforce Capabilities with Strategic Acquisition of EXAH

    India’s Best Minds Must Power Defence Innovation for Vision 2047,” says CMD, BEL at CII AeroDef Tech Summit 2025

    150 students complete Sona Group’s Xccelerator 2.0 Programme powered by Unreal Engine, Dassault

    OPPO India launches F31 5G Series: The Best Smartphone for Durability with Smooth and powerful performance

    L&T Technology Services, SiMa.ai Collaborate for Product Innovation in Mobility, Healthcare, Industrial Automation & Robotics

    Apple Koregaon Park opens to customers this Thursday September 4 in Pune - PHOTO CREDIT-Apple

    Apple Koregaon Park opens to customers this Thursday, September 4, in Pune

  • Auto

    Ola Launches Ola शfRत; enters India’s 1 Lakh Cr Battery Energy Storage Systems (BESS) market

    Volvo Cars celebrates four million cars produced on SPA architecture

    Vinay Raina, Chief Commercial Officer, JSW MG Motor India and Rajiv Sanghvi, Managing Director, PPS Motors handing over newly launched MG Windsor Inspire Edition to a customer at PPS-MG LB Nagar Showroom in Hyderabad

    PPS Motors launches MG Windsor Inspire Edition.

    Nitin Gadkari, Union Minister of Road Transport & Highways with Anurag Mehrotra, Managing Director, JSW MG Motor India

    JSW MG Motor India Launches the Windsor Inspire Edition

  • Sports

    TOYOTA GAZOO Racing title fighters enter asphalt adventure

    Greenwood High Hosts CISCE National Chess Championship 2025

    ‘India has good, leading swimmers, they just need more of them,’ says legendary swimming coach Michael Bohl

    Bulls tamed in tie-breaker thriller! Puneri Paltan’s all-round performance takes them to top of points table

  • Entertainment

    House of McDowell’s Soda Yaari Jam, India’s Biggest Branded Live IP, Touches down in Kolkata

    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

    Vogue Wedding Atelier presented by HSBC India at Taj Palace, New Delhi, from 8-10 August 2025

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

  • Lifestyle
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    • Food
    • Travel

    Malabar Gold & Diamonds Opens its Showroom at Vaishali Enclave, Pitampura, Inaugurated By Bollywood Star Anil Kapoor

    Coffee Island Debuts in Mumbai with Its First Café at the Iconic Eros Building, Churchgate

    Eugenix Hair Sciences Founders addressing the media with Sonu Nigam

    Eugenix Hair Sciences Unveils Its Global Facility for Hair Restoration in Gurgaon

    Jockey India marks a milestone — 1500th Exclusive Brand Store in India

    Jockey Marks Retail Milestone with Launch of 1500th Exclusive Brand store in India

    IATA Launches Global Campaign to Help Travelers Fly Safely with Lithium Batteries

    Knot.dating Becomes Operationally Profitable Faster Than Expected

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India’s central bank cuts rates, takes steps to counter economic impact of coronavirus

FWM by FWM
March 27, 2020
in Business
0

Mar 27, 2020

As announced at the Governor’s press conference today, it has been decided to conduct TLTROs of up to three years of appropriate sizes for a total amount of ₹ 1,00,000 crores. Accordingly, it has been decided to conduct the first tranche for ₹ 25,000 crores today. The details of the operation are as under:

Sl. No. Date Notified Amount
(₹ crores)
Tenor Window Timing Date of Reversal
1 March 27, 2020 25,000 3-year 2.00 PM – 3.00 PM March 24, 2023

2. The funds availed under this facility would have to be deployed within 15 working days from the date of the operation. A declaration to this effect would need to be submitted within one month to Financial Markets Operations Department (email) and to Department of Supervision (email).

3. These operations would be conducted at the policy rate prevailing at the time of the operation. The interest rate on TLTROs would be floating and linked to the policy rate. Other operational guidelines for TLTROs would remain the same as LTROs,

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COVID-19 – Regulatory Package

Please refer to the Statement of Development and Regulatory Policies released on March 27, 2020 where inter alia certain regulatory measures were announced to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses. In this regard, the detailed instructions are as follows:

(i) Rescheduling of Payments – Term Loans and Working Capital Facilities

2. In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) (“lending institutions”) are permitted to grant a moratorium of three months on payment of all instalments1 falling due between March 1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.

3. In respect of working capital facilities sanctioned in the form of cash credit/overdraft (“CC/OD”), lending institutions are permitted to defer the recovery of interest applied in respect of all such facilities during the period from March 1, 2020 upto May 31, 2020 (“deferment”). The accumulated accrued interest shall be recovered immediately after the completion of this period.

(ii) Easing of Working Capital Financing

4. In respect of working capital facilities sanctioned in the form of CC/OD to borrowers facing stress on account of the economic fallout of the pandemic, lending institutions may recalculate the ‘drawing power’ by reducing the margins and/or by reassessing the working capital cycle. This relief shall be available in respect of all such changes effected up to May 31, 2020 and shall be contingent on the lending institutions satisfying themselves that the same is necessitated on account of the economic fallout from COVID-19. Further, accounts provided relief under these instructions shall be subject to subsequent supervisory review with regard to their justifiability on account of the economic fallout from COVID-19.

Classification as Special Mention Account (SMA) and Non-Performing Asset (NPA)

5. Since the moratorium/deferment/recalculation of the ‘drawing power’ is being provided specifically to enable the borrowers to tide over economic fallout from COVID-19, the same will not be treated as concession or change in terms and conditions of loan agreements due to financial difficulty of the borrower under paragraph 2 of the Annex to the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 dated June 7, 2019 (“Prudential Framework”). Consequently, such a measure, by itself, shall not result in asset classification downgrade.

6. The asset classification of term loans which are granted relief as per paragraph 2 shall be determined on the basis of revised due dates and the revised repayment schedule. Similarly, working capital facilities where relief is provided as per paragraph 3 above, the SMA and the out of order status shall be evaluated considering the application of accumulated interest immediately after the completion of the deferment period as well as the revised terms, as permitted in terms of paragraph 4 above.

7. The rescheduling of payments, including interest, will not qualify as a default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by the lending institutions. CICs shall ensure that the actions taken by lending institutions pursuant to the above announcements do not adversely impact the credit history of the beneficiaries.

Tags: COVID-19 Pandemic.
FWM

FWM

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