The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Business

Much more needed to bring the economy out from inevitable recession: Dipen Agrawal

by TLN Team March 28, 2020March 27, 2020
written by TLN Team March 28, 2020March 27, 2020
Much more needed to bring the economy out from inevitable recession: Dipen Agrawal

Dipen Agrawal, President of Chamber of Associations of Maharashtra Industry & Trade (CAMIT) welcoming the announcements made by Shashikant Das, Governor RBI to mitigate the impact of the Coronavirus said that the steep cut in the repo & reverse repo rates by 75 and 90 basis point reduction in CRR will push banks to look at increased lending, thereby ensuring attractive lending rates.

With the repo rate now, at 4.4% the banks should pass the benefits of the present & previous rate cuts to the customers. This will reduce the borrowing cost for the home-seeker significantly and have a positive impact on real estate and will reduce the cost of funds. The 3month moratorium for borrowers is a huge relief for individuals.

The payment of installments on term loans (housing, motor, personal, plant & machinery and like). This will help people to postpone payment of EMIs and help their cash position and support cash flows of firms too.

There will be a similar effect from deferment of interest on working capital loans. Agrawal appealed to the management of all banks to take urgent meetings to pass on the benefit to customers.

RBI governor was silent on the extension of Letter of Credit and time-bound commitments under FEMA, however, Agrawal said that RBI governor’s statement ‘whatever steps are necessary – all instruments, conventional and unconventional are on the table’, gives a ray of hope that more steps will be taken in near future to bring our economy out from the inevitable recession.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
NMC to start disinfection drive from tonight
next post
Being Ahead of the Curve: Real Estate Switches to Digital Mode: Dr. Niranjan Hiranandani

You may also like

CAIT call Bharat Vyapar Bandh was successful- Bandh...

February 26, 2021

City traders give lukewarm response to CAIT’s ‘Bharat...

February 26, 2021

NVCC supports CAIT demands for Bharat Vyapar Bandh...

February 24, 2021

Bank account, properties to be seized for violation...

February 24, 2021

Institute of Chartered Accountants of India to set...

February 24, 2021

LIC launches digital application-ANANDA

February 22, 2021

“Opportunities to MSME- Initiatives by the National Small...

February 22, 2021

CA’s act as Bridge between Taxpayers and Government...

February 22, 2021

VED Invites interested non-members to its Tourism Meeting

February 22, 2021

Nagpur Chapter Chairman S P Singh gets PRSI...

February 22, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.



Trending News

  • Govt extends existing COVID-19 guidelines till Mar 31

    February 26, 2021
  • Ishara’s Paapnaashini Ganga Title Track Pays Tribute to Goddess Ganga in Kailash Kher’s Voice

    February 26, 2021
  • Bhumi Pednekar and UNESCO Join Whisper®’s mission to #KeepGirlsInSchool

    February 26, 2021
  • Aditya TATA Cars Delivers the 1st TATA Safari

    February 25, 2021
  • Social Media, OTT platforms to take down objectionable unlawful content within 24 hours: Central Govt

    February 25, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

March 2020
M T W T F S S
« Feb   Apr »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.