RBI allows 3-month moratorium on payment of loans & EMIs. It applies to all banks and lending institutions. However, the establishments can take a final call on providing the relief. The repo rate was slashed by 4.4 % points and the reverse repo rate was cut to 4%. RBI will undertake a repo operation of up to Rs1 lakh crore to infuse liquidity in market. RBI reduces Cash Reserve Ratio (CRR) by 100 basis points to 3%.
