* The Reserve Bank of India (RBI) has announced moratorium on term loans for up to three motnhs.

* All commercial, regional rural, and nbfcs and small finance banks are being permitted to allow 3 month moratorium on payment of instalments in respect of all term loans outstanding on 31 march 2020.

* This would mean that individuals EMI repayments of loans taken would not be deducted from their bank accounts till the above-mentioned time. The loan EMI payments will restart only once the time period expires.

* Following in the footsteps of global central banks, the Reserve Bank of India (RBI) has lowered the key repo rate by 75 basis points (bps) to 4.4 per cent, to help arrest the economic slowdown in the wake of the coronavirus (Covid-19) outbreak. The reverse repo rate now stands at 4 per cent, down 90 bps.

* Repo rate is the rate at which a country’s central bank lends money to commercial banks, and reverse repo rate is the rate at which it borrows from them.

* Indian Bank has launched five special emergency loans for large corporates, medium enterprises, MSMEs, salaried and pensioners as a support to its customers effecting through economic slump and lockdown because of COVID-19 pandemic. Earlier, State Bank of India (SBI), Union Bank of India (UBI), Bank of India (BOI) initiated schemes to provide liquidity relief to borrowers.

• Jana Small Finance Bank (SFB), a leading digitized bank in partnership with National Payment Corporation of India (NPCI), has launched a UPI QR-based loan installment payment facility to its existing 40 lakh plus customers & 5crore micro finance agencies.

• Now the bank’s customers can generate UPI (Unified Payments Interface) QR (Quick Response) code for their loan account and make instalment payments instantly using any of the UPI applications.

• The UPI QR-based payment mode is available for P2P (person to person) and P2M (person to merchant) payments.

* After the Reserve Bank of India’s (RBI) reconstruction plan for Yes Bank, the latter has resumed its standard operations from last week.

* Now, to keep the liquidity of the bank for paying back to its depositors stable, RBI has opened an emergency line of credit of Rs 59,000 crore.

* This liquidity support to Yes Bank is an additional liquidity arsenal provided under Section 17 (4) of the RBI Act, 1934 as the bank has no solvency problem or any other issue except liquidity.

* The move comes after 16 years when a similar credit line was opened for Global Trust Bank in 2004 after which the bank merged with Oriental Bank of Commerce.

* National Bank for Agriculture and Rural Development (NABARD) provides financial support of Rs 42,213crore in the Financial Year(FY) 2019-20 for building rural infrastructure.

* In this FY, NABARD has provided Rs 20,869 crore for irrigation related projects, in addition to Rs 5,686 crore for rural connectivity.

* Apart from this it has released Rs 10,935 crore for Pradhan Mantri Aawas Yojana Gramin (PMAYG) to provide “housing for all by 2022”& for Swachh Bharat Mission to provide clean water and sanitation facilities.

* IndusInd Bank has appointed Sumant Kathpalia as the Managing Director and CEO.

* The appointment was announced as Romesh Sobti retired as the MD & CEO of the Bank after a 12 year stint.

* Kathpalia is a career banker with over 33 years of experience in large multinational banks such as Citibank, Bank of America, ABN AMRO and IndusInd bank.

* In a bid to promote digital India initiative of the central Government, Karur Vysya Bank (KVB) has launched India’s 1st prepaid wallet card ‘Enkasu’ (My cash in Tamil) in Karur, Tamil Nadu (TN) under its Quit cash movement.

* The card functions based on Near Field Communication Technology (NFC) in a semi closed loop & the customers buying this card can make ‘tap & go’ payments for even small purchases to merchants from an amount of Rs. 1 to doing away with the need for cash & small change.

* State Bank of India (SBI), an Indian multinational, public sector bank, became the 1st bank to launch COVID 19 emergency credit line (CECL) to provide funds to businesses affected by the infectious coronavirus.

* Under this emergency credit line, loan will be given at an fixed interest rate of 7.25 % for a period of 12 months. Maximum loan amount of up to Rs 200 crore or 10 % of the existing fund based working capital limits (FBWC) will be provided and such facility will be available by 30 June 2020.

• The Reserve Bank of India has appointed R Gandhi and Ananth Narayan Gopalakrishnan as additional directors to the board of YES Bank for a period of two years.

• Gandhi, a former deputy governor of RBI, was previously appointed to the YES Bank board as an additional director by the RBI in May 2019 for a period of two years.

• Ananth Narayan Gopalakrishnan was previously Standard Chartered Bank's regional head of financial markets for ASEAN and South Asia.