One-time restructuring MSME scheme extended, to be implemented latest by Dec 31: RBI

One-time restructuring MSME scheme extended, to be implemented latest by Dec 31: RBI

After the introduction of the external benchmark system, most banks have linked their lending rates for housing, personal and micro and small enterprises (MSEs) to the policy repo rate of the Reserve Bank. During October-December 2019, the WALRs of domestic (public and private sector) banks on fresh rupee loans declined by 18 bps for housing loans, 87 bps for vehicle loans and 23 bps for loans to micro, small and medium enterprises (MSMEs).

The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy statement for 2019-20, decided to continue with the accommodative stance as long as it is necessary to revive growth while ensuring that inflation remains within the target.

RBI said these decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2% while supporting growth.

About Gosip4U

Gosip4U is the digital wing of india - India's leading media and communications group with its interests spanning across country.