1. RBI cuts repo rate by 40 bps; extends loan moratorium till August
- As the lockdown extended, the RBI has also extended moratorium on term loans till August 31
- RBI’s monetary policy committee has cut repo rates by 40 basis points to 4%
- Loan moratorium extended by another 3 months till August 31.
- RBI Governor may again announce new measures to ease liquidity pressure in the banking system.
2. PM Modi allocates 1000 cr. for Amphan-hit West Bengal.
- Prime Minister Narendra Modi announced a rehabilitation package of 1,000 crore for the cyclone-affected West Bengal
- An advance assistance of 1,000 crore will be arranged by the government of India
- Mr. Modi said that the State government does not face any major hardship during these difficult times.
3. Online courses help some cope with lockdown in J&K
- Students in J&K opting for add-on courses online.
- Muhammad Mutahir, who works with food delivery start-up Zomato, is a volunteer sharing his knowledge about entrepreneurial skills
- The response of people has been overwhelming, said J&KSDM
- The goal is to offer a range of courses is to upscale skills and utilize the time offered by the lockdown.