RBI: Sovereign Gold bonds from RBI 3rd Tranche at 4540/gm for online application

Sovereign Gold Bond (SGB) Features:
1. The tenure of 8 years with an option to exit from the 5th year
2. 2.5% per annum Interest with asset appreciation opportunity
3. The convenience of investing online (Elimination of risk and cost of storage)
4. Exempt from the Capital gains tax, if held till maturity

RBI: Extends moratorium on home loan EMIs till August, cuts repo rate to 4%

The RBI, on May 22, 2020, extended the moratorium on all term loans, including home loans, by three months, till August 31, while also announcing a 40-basis point reduction in the repo rate

To support economic growth, which is headed towards a contraction in the wake of the Coronavirus pandemic, the Reserve Bank of India (RBI), on May 22, 2020, reduced the repo rate to 4%. The 40-basis point cut in the repo rate, at which the RBI lends money to scheduled banks in India, comes two months after the banking regulator cut its key lending rate by 75 basis points, to bring it down to 4.40%.

RBI: Merger of 10 PSU's Banks

The merger of 10 public sector banks to come into effect from 1st April

Oriental Bank of Commerce (OBC) and United Bank of India will be merged into Punjab National Bank.

After the merger, there will be 12 public sector banks.

Corona: RBI announcements on lockdown (Moratorium)

Hey friends,

RBI big announcement

RBI allows 3-month moratorium on EMI's, cuts repo rate by 75 basis points.