June 16, 2024

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Delighting finance buffs

Banks not to make any dividend payment in view of financial difficulties, says RBI

Making a slew of announcement to ease the pressure on financial sector, Reserve Bank of India (RBI) Governor Shaktikanta Das said banks shall be exempted from making dividend payment in the light of financial difficulties posed by Covid-19 pandemic.

Reserve Bank of India (RBI) Governor Shaktikanta Das (Photo: PTI)

Providing relaxation to lenders, the Reserve Bank of India (RBI) on Friday said that banks shall be exempted from making dividend payment in the light of financial difficulties posed by Covid-19 pandemic.

Making a slew of announcement to ease the pressure on financial sector, RBI Governor Shaktikanta Das said that the 90-day norm will not apply on moratorium granted on existing loans by banks.

To maintain financial health, he said, banks have been exempt to make any further dividend payout in view of financial difficulties arising from Covid-19.

On the inflation front, he said CPI-based inflation has declined March and it is expected to ease further.

RBI will take advantage of the falling price situation and pass on benefit to borrowers, he hinted.

IndiaToday.in has plenty of useful resources that can help you better understand the coronavirus pandemic and protect yourself. Read our comprehensive guide (with information on how the virus spreads, precautions and symptoms), watch an expert debunk myths, check out our data analysis of cases in India, and access our dedicated coronavirus page. Get the latest updates on our live blog.

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