Earlier on Wednesday, the ministry had issued orders reducing interest rates for first quarter of the new financial year starting 1st April 2021.
Big relief by Modi govt for those who stopped paying EMIs during lockdown, no need to pay extra interest accumulated during this period
MSME, education, housing, vehicle, personal loans etc upto Rs 2 crore will attract only simple interest during the moratorium period
The RBI has delivered a rate cut of 25 bps, making it three consecutive rate cuts in a year
Both Muslim men and women have been asked to follow this
Modi Government will have to repay the political cost of demonetisation.