Wednesday, 1 April 2020

Moratorium on Term Loans due to COVID-19 in India,

Moratorium on Term Loans due to COVID-19 in India,  COVID-19 – RBI Regulatory Package


Moratorium has been announced by RBI on Term Loans, Moratorium can be availed on the Home Loans, Car Loans, Electric Goods purchase loans, Moratorium on Personal Loans, Moratorium on Home Loans in India. 3 Months of Moratorium on Term Loans in India from 1st March 20202 to May 2020.

Please refer to the Statement of Development and Regulatory Policies released on March 27, 2020 where inter alia certain regulatory measures were announced to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses. In this regard, the detailed instructions are as follows:

Rescheduling of Payments – Term Loans and Working Capital Facilities

In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) (“lending institutions”) are permitted to grant a moratorium of three months on payment of all installment falling due between March 1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.

In respect of working capital facilities sanctioned in the form of cash credit/overdraft (“CC/OD”), lending institutions are permitted to defer the recovery of interest applied in respect of all such facilities during the period from March 1, 2020 up to May 31, 2020 (“deferment”). The accumulated accrued interest shall be recovered immediately after the completion of this period.

List of Banks which are providing Moratorium on Term Loans automatically and on demand


SBI: Automatic Relief
Panjab National Bank: Automatic Relief
IDBI: Automatic Relief
Canara Bank: On Demant
IDFC: On Demand
HDFC: On Demand 
ICICI: On Demand
DHFL: On Demand
IIFL: On Demand
LIC Housing Finance: On Demand


The asset classification of term loans which are granted relief as per paragraph 2 shall be determined on the basis of revised due dates and the revised repayment schedule. Similarly, working capital facilities where relief is provided as per paragraph 3 above, the SMA and the out of order status shall be evaluated considering the application of accumulated interest immediately after the completion of the deferment period as well as the revised terms, as permitted in terms of paragraph 4 above.
Moratorium on Term Loans due to COVID-19 in India,

The rescheduling of payments, including interest, will not qualify as a default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by the lending institutions. CICs shall ensure that the actions taken by lending institutions pursuant to the above announcements do not adversely impact the credit history of the beneficiaries.

Lending institutions shall frame Board approved polices for providing the above-mentioned reliefs to all eligible borrowers, inter alia, including the objective criteria for considering reliefs under paragraph 4 above and disclosed in public domain.

Wherever the exposure of a lending institution to a borrower is ₹ 5 crore or above as on March 1, 2020, the bank shall develop an MIS on the reliefs provided to its borrowers which shall inter alia include borrower-wise and credit-facility wise information regarding the nature and amount of relief granted.

The instructions in this circular come into force with immediate effect. The Board of Directors and the key management personnel of the lending institutions shall ensure that the above instructions are properly communicated down the line in their respective organisations, and clear instructions are issued to their staff regarding their implementation.


LIC HOUSING FINANCE LTD


Salient Features of  “Relief - COVID 19” – Reschedulement of Pre EMI / EMI.

Borrowers of Retail and Corporate loans, who have been economically impacted due to COVID -19, may exercise an option by making a request, atleast three days before due date of installment payment falling due between 01/03/2020 and 31/05/2020 at our web-site www.lichousing.com or mail to consent@lichousing.com

In case of Corporate loans, option is to be exercised by the representative duly authorized by the Company/ Firm for this purpose.

Interest shall continue to accrue on the outstanding portion of the loan during the moratorium period. Eligible Borrowers will have two options to pay the accrued interest as below:

a. Upfront payment of accrued Interest on completion of moratorium period. OR
b. Capitalize the accrued interest, which will be added to the loan amount outstanding and the same will be recovered by extending the term of the loan. Borrowers making a request as provided in (i) above, shall at the same time can opt for any the two options mentioned above.

Moratorium is only a temporary relief to tide over the economic fallout due to COVID – 19 and not to be construed as a waiver.

Borrowers who do not exercise this option, shall continue to pay their instalments as per normal terms and conditions.

Download LIC Housing Finance Guidelines on Moratorium


Click Here to Apply Online to avail Moratorium On LIC Home Loan




State Bank of India

NOTICE: COVID-19 RELIEF MEASURES
In terms of RBI COVID 19 regulatory package, SBI has initiated steps to defer the installments and interest/EMIs on Term Loans falling due between 01.03.2020 to 31.05.2020. Accordingly, the total repayment period will be extended by 3 months over the original repayment period.
Options for Customer:
Particular Course of Action
Customer who do not want to defer recovery of installments /EMI No action is required. They may continue to pay in usual course.
Customer who wants to defer recovery of instalments/EMI
  • NACH – Where collections of such installment / EMI is effected through National Automated Clearing House (NACH), please submit an Application (Annexure-I) along with mandate for NACH Extension-(Annexure-II) to stop NACH for these installments through an e-mail to the specified email ID (Annexure-III).
  • Standing Instructions (SI) – Please submit an Application (Annexure-I) through an email to the specified email ID (Annexure-III).
Customers who want refund of the installment/EMI already paid Please submit an Application (Annexure-I) through an email to the specified mail ID (Annexure-III)
Effecting deferment of EMI/NACH/Refund may take approximately 7 working days. Please bear with us. Thanks for your cooperation.
Impact of Deferment: To enable you to take an informed decision, we furnish here under the impact of deferment:
Interest shall continue to accrue on the outstanding portion of the Term Loan during the moratorium period. The possible impact of the extension of the repayment period has been explained below:
  • Impact in case of Auto Loan – For a loan of Rs.6 Lacs with a remaining maturity of 54 months the additional interest payable would be Rs.19,000 approx. equal to additional 1.5 EMIs.
  • Impact in case of Home Loan – For a loan of Rs.30 Lacs with a remaining maturity of 15 years, the net additional interest would be approx. 2.34 Lacs equal to 8 EMIs.

Download Loan Moratorium Application for SBI Bank


Download SBI Guidelines on Moratorium due to COVID-19


Download SBI All States e-mail IDs




HDFC Bank

As a measure of solidarity, RBI has permitted all Indian Banks / Indian Financial Institutions to offer it’s customers up to 3 months moratorium on their EMI payments falling due between Mar 1st, 2020 to May 31st, 2020.

Who is eligible?
All HDFC Bank customers who have availed of retail installment loan or any other retail credit facilities prior to 1st March 2020 are eligible. - Customers having overdue prior to 1st March 2020 may also opt for the moratorium, and their requests shall be considered by the bank based on its merits. All Agri Loans (Kisan Gold Card) and Micro finance customers under the Bank’s Sustainable Livelihood Initiative are also eligible. All Corporate as well as SME customers are also eligible. Our Relationship Managers will get in touch with you or you can contact them to get further details.

What will happen if I choose the EMI Moratorium?
If you choose EMI moratorium, - Bank will not ask for any EMI Payment till May 31st 2020. - Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan. - The loan tenure will get extended by the corresponding period for which the moratorium has been availed.

How do I get this EMI moratorium?
You will have to provide your consent to the bank through any of the following ways: -





HDFC Online Application to avail Moratorium on your Loan Here


Download HDFC Loan Moratorium guidelines





ICICI Bank

ICICI Bank has, as per the Bank’s approved policy extended Moratorium to the borrower(s)/customer(s) for certain loans/ credit facilities such as Kisan Credit Card (KCC), Farm Equipment (FE), Self-Help Group (SHG)/Joint Lending Group (JLG)/Loans given through Business Correspondent (BC), Jewel Loan, Corporate Farmer Finance, Business Lending - Unsecured (Current Account Over Draft/Small Business Loan/Roaming Protect/Loan Against Credit Card Receivable, Dealer Funding, Working Capital/Trade Advance to Auto Dealers, Commercial Business, Working Capital/Trade Advance to Commercial Business customers, Consumer Finance, Two Wheeler Loans.


With respect to above loan/ credit facilities if the borrower(s) / customer(s) (whose cash flows are not impacted) do not wish to avail of the Moratorium, borrower(s) / customer(s) may OPT-OUT from the Moratorium by clicking on the link shared with the borrower(s)/customer(s) by the Bank through (i) SMS or (ii) e-mail. You may also visit ICICI Bank’s website www.icicibank.com failing which it will be deemed that borrower/ customer has
opted for Moratorium.

In respect of all other types of facilities, borrower(s)/customer(s) will need to specifically OPT-IN for availing of Moratorium and postponement of payments falling due for payment between the period beginning Mar 01 until May 31, 2020.

Is moratorium compulsory or optional?
The moratorium is optional for all kinds of credit facilities such as retail loans, Home Loans,
Business Loans, Cards and Farmer Loans.

Is the moratorium on principal or interest or both?
Moratorium can be offered for below payments due during the moratorium period.
(i) principal and/or interest components;
(ii) bullet repayments;
(iii) Equated Monthly Instalments or EMIs;
(iv) Credit Card dues.

How can I opt for the moratorium?
You can opt for the moratorium by clicking on the link shared with you by the Bank through
(i) SMS or (ii) e-mail. or following ways


ICICI Application to avail Moratorium on your Loan


Download ICICI Loan Moratorium guidelines




Canara bank


What types of loans are covered under the relief package on account of COVID 2019
All Term Loans in respect of Retail, Agriculture and MSME and Cash Credit/Overdraft which are standard assets are eligible to avail the benefits under the package.

What will be treatment of three months gap for the month of March, April & May 2020?
Bank will provide moratorium/deferment for this period. The account classification and status of the customer will not change during the period on account of deferment. However, customers have an option to repay as per existing EMI/ INSTALLMENT schedule also.

How will customer contact the bank for non deduction of EMI/ INSTALLMENT?
The customer can avail of this facility if he/she wishes so and there is no need to contact your bank if you do not want to avail of this facility. In case the customer wants to avail of the deferment, he/she has to reply to SMS sent by the bank by sending “NO” on mobile no 8422004008.


In case, borrower has not received SMS from bank for deferment of EMI/ INSTALLMENT?
The customer can send e mail to retailbankingwing@canarabank.com with details of Loan Account Number, Name of customer, Branch Name and CASA account number.
Whether EMI/ INSTALLMENT will be refixed from 01.06.2020?
Yes, the deferred EMI/ INSTALLMENTs along with accrued interest during this period will be
repayable over the extended tenor loan (original term+ three months). Accordingly the EMI/
INSTALLMENTs will be rescheduled.

Canara Bank Application to avail Moratorium on your Loan


Download ICICI Loan Moratorium guidelines


All Other Banks and Non Banking Financial Corporations


In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) (“lending institutions”) are permitted to grant a moratorium of three months on payment of all installment falling due between March 1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.

In respect of working capital facilities sanctioned in the form of cash credit/overdraft (“CC/OD”), lending institutions are permitted to defer the recovery of interest applied in respect of all such facilities during the period from March 1, 2020 upto May 31, 2020 (“deferment”). The accumulated accrued interest shall be recovered immediately after the completion of this period.

Lending institutions shall frame Board approved polices for providing the above-mentioned reliefs to all eligible borrowers, inter alia, including the objective criteria for considering reliefs under paragraph 4 above and disclosed in public domain.

How to opt for Moratorium?
Download the blank application below and fill the application with signature. Then scan the application and send through e-mail to your bank.



Download Application to avail Moratorium on your Loan



Email IDs of all other Banks 

Below Bank Details for Who are Running Unsecured Business Loan.

TATA CAPITAL




BAJAJ Finserv

 RBL Bank


SCB Bank 

Axis Bank

Indusind Bank





Rattanindia 

IIFL

Aditya Birla




Clix Capital 
To - covid19.moratorium@clix.capital
CC - manish.chhabra@clix.capital

Fullerton India

Shriramcity


IDFC First Bank

HDFC Bank 

Indiabulls 


ICICI Bank


Kotak Mahindra Bank


Moratorium on Term Loans due to COVID-19 in India,  COVID-19 – RBI Regulatory Package


Moratorium has been announced by RBI on Term Loans, Moratorium can be availed on the Home Loans, Car Loans, Electric Goods purchase loans, Moratorium on Personal Loans, Moratorium on Home Loans in India. 3 Months of Moratorium on Term Loans in India from 1st March 20202 to May 2020.

Please refer to the Statement of Development and Regulatory Policies released on March 27, 2020 where inter alia certain regulatory measures were announced to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses. In this regard, the detailed instructions are as follows:

Rescheduling of Payments – Term Loans and Working Capital Facilities

In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) (“lending institutions”) are permitted to grant a moratorium of three months on payment of all installment falling due between March 1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.

In respect of working capital facilities sanctioned in the form of cash credit/overdraft (“CC/OD”), lending institutions are permitted to defer the recovery of interest applied in respect of all such facilities during the period from March 1, 2020 up to May 31, 2020 (“deferment”). The accumulated accrued interest shall be recovered immediately after the completion of this period.

List of Banks which are providing Moratorium on Term Loans automatically and on demand


SBI: Automatic Relief
Panjab National Bank: Automatic Relief
IDBI: Automatic Relief
Canara Bank: On Demant
IDFC: On Demand
HDFC: On Demand 
ICICI: On Demand
DHFL: On Demand
IIFL: On Demand
LIC Housing Finance: On Demand


The asset classification of term loans which are granted relief as per paragraph 2 shall be determined on the basis of revised due dates and the revised repayment schedule. Similarly, working capital facilities where relief is provided as per paragraph 3 above, the SMA and the out of order status shall be evaluated considering the application of accumulated interest immediately after the completion of the deferment period as well as the revised terms, as permitted in terms of paragraph 4 above.
Moratorium on Term Loans due to COVID-19 in India,

The rescheduling of payments, including interest, will not qualify as a default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by the lending institutions. CICs shall ensure that the actions taken by lending institutions pursuant to the above announcements do not adversely impact the credit history of the beneficiaries.

Lending institutions shall frame Board approved polices for providing the above-mentioned reliefs to all eligible borrowers, inter alia, including the objective criteria for considering reliefs under paragraph 4 above and disclosed in public domain.

Wherever the exposure of a lending institution to a borrower is ₹ 5 crore or above as on March 1, 2020, the bank shall develop an MIS on the reliefs provided to its borrowers which shall inter alia include borrower-wise and credit-facility wise information regarding the nature and amount of relief granted.

The instructions in this circular come into force with immediate effect. The Board of Directors and the key management personnel of the lending institutions shall ensure that the above instructions are properly communicated down the line in their respective organisations, and clear instructions are issued to their staff regarding their implementation.


LIC HOUSING FINANCE LTD


Salient Features of  “Relief - COVID 19” – Reschedulement of Pre EMI / EMI.

Borrowers of Retail and Corporate loans, who have been economically impacted due to COVID -19, may exercise an option by making a request, atleast three days before due date of installment payment falling due between 01/03/2020 and 31/05/2020 at our web-site www.lichousing.com or mail to consent@lichousing.com

In case of Corporate loans, option is to be exercised by the representative duly authorized by the Company/ Firm for this purpose.

Interest shall continue to accrue on the outstanding portion of the loan during the moratorium period. Eligible Borrowers will have two options to pay the accrued interest as below:

a. Upfront payment of accrued Interest on completion of moratorium period. OR
b. Capitalize the accrued interest, which will be added to the loan amount outstanding and the same will be recovered by extending the term of the loan. Borrowers making a request as provided in (i) above, shall at the same time can opt for any the two options mentioned above.

Moratorium is only a temporary relief to tide over the economic fallout due to COVID – 19 and not to be construed as a waiver.

Borrowers who do not exercise this option, shall continue to pay their instalments as per normal terms and conditions.

Download LIC Housing Finance Guidelines on Moratorium


Click Here to Apply Online to avail Moratorium On LIC Home Loan




State Bank of India

NOTICE: COVID-19 RELIEF MEASURES
In terms of RBI COVID 19 regulatory package, SBI has initiated steps to defer the installments and interest/EMIs on Term Loans falling due between 01.03.2020 to 31.05.2020. Accordingly, the total repayment period will be extended by 3 months over the original repayment period.
Options for Customer:
Particular Course of Action
Customer who do not want to defer recovery of installments /EMI No action is required. They may continue to pay in usual course.
Customer who wants to defer recovery of instalments/EMI
  • NACH – Where collections of such installment / EMI is effected through National Automated Clearing House (NACH), please submit an Application (Annexure-I) along with mandate for NACH Extension-(Annexure-II) to stop NACH for these installments through an e-mail to the specified email ID (Annexure-III).
  • Standing Instructions (SI) – Please submit an Application (Annexure-I) through an email to the specified email ID (Annexure-III).
Customers who want refund of the installment/EMI already paid Please submit an Application (Annexure-I) through an email to the specified mail ID (Annexure-III)
Effecting deferment of EMI/NACH/Refund may take approximately 7 working days. Please bear with us. Thanks for your cooperation.
Impact of Deferment: To enable you to take an informed decision, we furnish here under the impact of deferment:
Interest shall continue to accrue on the outstanding portion of the Term Loan during the moratorium period. The possible impact of the extension of the repayment period has been explained below:
  • Impact in case of Auto Loan – For a loan of Rs.6 Lacs with a remaining maturity of 54 months the additional interest payable would be Rs.19,000 approx. equal to additional 1.5 EMIs.
  • Impact in case of Home Loan – For a loan of Rs.30 Lacs with a remaining maturity of 15 years, the net additional interest would be approx. 2.34 Lacs equal to 8 EMIs.

Download Loan Moratorium Application for SBI Bank


Download SBI Guidelines on Moratorium due to COVID-19


Download SBI All States e-mail IDs




HDFC Bank

As a measure of solidarity, RBI has permitted all Indian Banks / Indian Financial Institutions to offer it’s customers up to 3 months moratorium on their EMI payments falling due between Mar 1st, 2020 to May 31st, 2020.

Who is eligible?
All HDFC Bank customers who have availed of retail installment loan or any other retail credit facilities prior to 1st March 2020 are eligible. - Customers having overdue prior to 1st March 2020 may also opt for the moratorium, and their requests shall be considered by the bank based on its merits. All Agri Loans (Kisan Gold Card) and Micro finance customers under the Bank’s Sustainable Livelihood Initiative are also eligible. All Corporate as well as SME customers are also eligible. Our Relationship Managers will get in touch with you or you can contact them to get further details.

What will happen if I choose the EMI Moratorium?
If you choose EMI moratorium, - Bank will not ask for any EMI Payment till May 31st 2020. - Interest will continue to accrue on the principal outstanding for the period of the moratorium at the contracted rate of the loan. - The loan tenure will get extended by the corresponding period for which the moratorium has been availed.

How do I get this EMI moratorium?
You will have to provide your consent to the bank through any of the following ways: -





HDFC Online Application to avail Moratorium on your Loan Here


Download HDFC Loan Moratorium guidelines





ICICI Bank

ICICI Bank has, as per the Bank’s approved policy extended Moratorium to the borrower(s)/customer(s) for certain loans/ credit facilities such as Kisan Credit Card (KCC), Farm Equipment (FE), Self-Help Group (SHG)/Joint Lending Group (JLG)/Loans given through Business Correspondent (BC), Jewel Loan, Corporate Farmer Finance, Business Lending - Unsecured (Current Account Over Draft/Small Business Loan/Roaming Protect/Loan Against Credit Card Receivable, Dealer Funding, Working Capital/Trade Advance to Auto Dealers, Commercial Business, Working Capital/Trade Advance to Commercial Business customers, Consumer Finance, Two Wheeler Loans.


With respect to above loan/ credit facilities if the borrower(s) / customer(s) (whose cash flows are not impacted) do not wish to avail of the Moratorium, borrower(s) / customer(s) may OPT-OUT from the Moratorium by clicking on the link shared with the borrower(s)/customer(s) by the Bank through (i) SMS or (ii) e-mail. You may also visit ICICI Bank’s website www.icicibank.com failing which it will be deemed that borrower/ customer has
opted for Moratorium.

In respect of all other types of facilities, borrower(s)/customer(s) will need to specifically OPT-IN for availing of Moratorium and postponement of payments falling due for payment between the period beginning Mar 01 until May 31, 2020.

Is moratorium compulsory or optional?
The moratorium is optional for all kinds of credit facilities such as retail loans, Home Loans,
Business Loans, Cards and Farmer Loans.

Is the moratorium on principal or interest or both?
Moratorium can be offered for below payments due during the moratorium period.
(i) principal and/or interest components;
(ii) bullet repayments;
(iii) Equated Monthly Instalments or EMIs;
(iv) Credit Card dues.

How can I opt for the moratorium?
You can opt for the moratorium by clicking on the link shared with you by the Bank through
(i) SMS or (ii) e-mail. or following ways


ICICI Application to avail Moratorium on your Loan


Download ICICI Loan Moratorium guidelines




Canara bank


What types of loans are covered under the relief package on account of COVID 2019
All Term Loans in respect of Retail, Agriculture and MSME and Cash Credit/Overdraft which are standard assets are eligible to avail the benefits under the package.

What will be treatment of three months gap for the month of March, April & May 2020?
Bank will provide moratorium/deferment for this period. The account classification and status of the customer will not change during the period on account of deferment. However, customers have an option to repay as per existing EMI/ INSTALLMENT schedule also.

How will customer contact the bank for non deduction of EMI/ INSTALLMENT?
The customer can avail of this facility if he/she wishes so and there is no need to contact your bank if you do not want to avail of this facility. In case the customer wants to avail of the deferment, he/she has to reply to SMS sent by the bank by sending “NO” on mobile no 8422004008.


In case, borrower has not received SMS from bank for deferment of EMI/ INSTALLMENT?
The customer can send e mail to retailbankingwing@canarabank.com with details of Loan Account Number, Name of customer, Branch Name and CASA account number.
Whether EMI/ INSTALLMENT will be refixed from 01.06.2020?
Yes, the deferred EMI/ INSTALLMENTs along with accrued interest during this period will be
repayable over the extended tenor loan (original term+ three months). Accordingly the EMI/
INSTALLMENTs will be rescheduled.

Canara Bank Application to avail Moratorium on your Loan


Download ICICI Loan Moratorium guidelines


All Other Banks and Non Banking Financial Corporations


In respect of all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies) (“lending institutions”) are permitted to grant a moratorium of three months on payment of all installment falling due between March 1, 2020 and May 31, 2020. The repayment schedule for such loans as also the residual tenor, will be shifted across the board by three months after the moratorium period. Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.

In respect of working capital facilities sanctioned in the form of cash credit/overdraft (“CC/OD”), lending institutions are permitted to defer the recovery of interest applied in respect of all such facilities during the period from March 1, 2020 upto May 31, 2020 (“deferment”). The accumulated accrued interest shall be recovered immediately after the completion of this period.

Lending institutions shall frame Board approved polices for providing the above-mentioned reliefs to all eligible borrowers, inter alia, including the objective criteria for considering reliefs under paragraph 4 above and disclosed in public domain.

How to opt for Moratorium?
Download the blank application below and fill the application with signature. Then scan the application and send through e-mail to your bank.



Download Application to avail Moratorium on your Loan



Email IDs of all other Banks 

Below Bank Details for Who are Running Unsecured Business Loan.

TATA CAPITAL




BAJAJ Finserv

 RBL Bank


SCB Bank 

Axis Bank

Indusind Bank





Rattanindia 

IIFL

Aditya Birla




Clix Capital 
To - covid19.moratorium@clix.capital
CC - manish.chhabra@clix.capital

Fullerton India

Shriramcity


IDFC First Bank

HDFC Bank 

Indiabulls 


ICICI Bank


Kotak Mahindra Bank


Saturday, 28 March 2020

Join the War Against COVID-19 as Volunteer @self4society.mygov.in/

Join the War Against COVID-19 as Volunteer @self4society.mygov.in/


Government of India has launched a news service for those who are willing to fight against the COVID-19 by joining their hands with the government. Online Registrations are invited to all Citizen of India to register themselves as Volunteer. Citizen of India can become as soldier to join the war against spread of Corona Virus(COVID-19). 

Citizen can fill the online application in their mobiles to join as Volunteer to fight against COVID-19. They have to open the website https://self4society.mygov.in/volunteer/ to fill the online application.

Citizen can join as volunteer as individual and as Organisation.

Required Details for filling online form

1) Full Name
2) Email
3) Mobile Number
4) Date of Birth
5) Gender
6) Now click on Create New Account
7) An individual account will be created for you
8) You can login the website to join as volunteer now.

Join the War Against COVID-19 as Volunteer @self4society.mygov.in/

Areas of Contributions/Services

Health Services

Donate Medical Equipments
Paramedic
Infection prevention and control
Assisting primary healthcare workers
Helping elderly and those in need.
Dead body management
Transportation of patients

communication

Public Awareness on Hygiene practices
Promote social distancing measures
Community level, RWA, Social Groups, Religious places awareness campaigns.
Manning of help lines


Entrepreneurial

Assisting in production of PPE, masks, sanitizers etc.
IT based solutions.
Logistics

Essential Services

Assisting District Administration in quarantine, home isolation and law and order arrangements
Disinfection and cleaning services
Door to door information and service management


Frequenty Asked Questions @self4society.mygov.in

What is Self4Society platform?

The Self4Society platform is the premiere workspace for Electronics and IT corporates to organise employee engagements (Initiatives) for social work. The organisation can create their own Initiatives under the identified National Causes.

The Self4Society platform comprises of the following:

Self4Society Admin portal (self4society.mygov.in) for Electronics and IT Industry's Corporate HR or CSR representatives, who will create the organisational profile and upload Initiatives.
Self4Society App (available on Google Play Store and App Store) for people, who will volunteer for Initiatives and contribute their time to tasks on-the-ground.

What is an Initiative?

An Initiative is a set of tasks related to a cause category, created by the organisation's HR or CSR representative. Each Initiative provides the details of the specific date, venue and time where the volunteering activity will take place. The details also include the name and description for the Initiative, along with the organiser's contact details, location and task details.

The Initiatives created on the Self4Society portal are synched up on the Self4Society App from where the volunteers can indicate willingness to participate and mark their presence.

On the (self4society.mygov.in) platform, organisation's HR or CSR representative can create Initiatives for their employees across causes categories.

What do I do to mark to my presence for the Initiative?

Volunteers can express their willingness to contribute to an Initiative by clicking the Volunteer button for that Initiative in the Self4Society App. The volunteers will first have to click on the Volunteer option. On the day of the Initiative the HR/ CSR representative will carry the physical cut-outs of the QR Code at the Initiative's location. People who have volunteered for the Initiative will have to scan the QR code through the Self4Society App on their mobile phones to mark their presence and log the hours of actual on-the-ground work for the target set by the organiser.

What are Goodness Points?

Goodness Points are a mechanism to credit the people who volunteer for those Initiatives, for the ground work they have executed. By earning greater goodness points, you and your colleagues have the opportunity to be part of the Leader board on the Self4Society App that features the top five contributors in an organisation.

Do you have queries related to enrolling organisations, creating Initiatives or volunteering for Initiatives?

Contact us at:

e-Mail: self4society[at]mygov[dot]in
Whatsapp: +91-8448589933 (Timing: 10 am to 6 pm, Monday to Saturday)
Register as volunteer to join the war against COVID-19

Telugu Videos about Corona Virus(COVID-19) Explained in Telugu


Corona Help Desk through Telegram Channel by Government of India, Join this Telegram Channel now




Join the War Against COVID-19 as Volunteer @self4society.mygov.in/


Government of India has launched a news service for those who are willing to fight against the COVID-19 by joining their hands with the government. Online Registrations are invited to all Citizen of India to register themselves as Volunteer. Citizen of India can become as soldier to join the war against spread of Corona Virus(COVID-19). 

Citizen can fill the online application in their mobiles to join as Volunteer to fight against COVID-19. They have to open the website https://self4society.mygov.in/volunteer/ to fill the online application.

Citizen can join as volunteer as individual and as Organisation.

Required Details for filling online form

1) Full Name
2) Email
3) Mobile Number
4) Date of Birth
5) Gender
6) Now click on Create New Account
7) An individual account will be created for you
8) You can login the website to join as volunteer now.

Join the War Against COVID-19 as Volunteer @self4society.mygov.in/

Areas of Contributions/Services

Health Services

Donate Medical Equipments
Paramedic
Infection prevention and control
Assisting primary healthcare workers
Helping elderly and those in need.
Dead body management
Transportation of patients

communication

Public Awareness on Hygiene practices
Promote social distancing measures
Community level, RWA, Social Groups, Religious places awareness campaigns.
Manning of help lines


Entrepreneurial

Assisting in production of PPE, masks, sanitizers etc.
IT based solutions.
Logistics

Essential Services

Assisting District Administration in quarantine, home isolation and law and order arrangements
Disinfection and cleaning services
Door to door information and service management


Frequenty Asked Questions @self4society.mygov.in

What is Self4Society platform?

The Self4Society platform is the premiere workspace for Electronics and IT corporates to organise employee engagements (Initiatives) for social work. The organisation can create their own Initiatives under the identified National Causes.

The Self4Society platform comprises of the following:

Self4Society Admin portal (self4society.mygov.in) for Electronics and IT Industry's Corporate HR or CSR representatives, who will create the organisational profile and upload Initiatives.
Self4Society App (available on Google Play Store and App Store) for people, who will volunteer for Initiatives and contribute their time to tasks on-the-ground.

What is an Initiative?

An Initiative is a set of tasks related to a cause category, created by the organisation's HR or CSR representative. Each Initiative provides the details of the specific date, venue and time where the volunteering activity will take place. The details also include the name and description for the Initiative, along with the organiser's contact details, location and task details.

The Initiatives created on the Self4Society portal are synched up on the Self4Society App from where the volunteers can indicate willingness to participate and mark their presence.

On the (self4society.mygov.in) platform, organisation's HR or CSR representative can create Initiatives for their employees across causes categories.

What do I do to mark to my presence for the Initiative?

Volunteers can express their willingness to contribute to an Initiative by clicking the Volunteer button for that Initiative in the Self4Society App. The volunteers will first have to click on the Volunteer option. On the day of the Initiative the HR/ CSR representative will carry the physical cut-outs of the QR Code at the Initiative's location. People who have volunteered for the Initiative will have to scan the QR code through the Self4Society App on their mobile phones to mark their presence and log the hours of actual on-the-ground work for the target set by the organiser.

What are Goodness Points?

Goodness Points are a mechanism to credit the people who volunteer for those Initiatives, for the ground work they have executed. By earning greater goodness points, you and your colleagues have the opportunity to be part of the Leader board on the Self4Society App that features the top five contributors in an organisation.

Do you have queries related to enrolling organisations, creating Initiatives or volunteering for Initiatives?

Contact us at:

e-Mail: self4society[at]mygov[dot]in
Whatsapp: +91-8448589933 (Timing: 10 am to 6 pm, Monday to Saturday)
Register as volunteer to join the war against COVID-19

Telugu Videos about Corona Virus(COVID-19) Explained in Telugu


Corona Help Desk through Telegram Channel by Government of India, Join this Telegram Channel now




Friday, 27 March 2020

Telugu Videos about Corona Virus(COVID-19) Explained in Telugu

Telugu Videos about Corona Virus(COVID-19) Explained in Telugu


Shape of the virus is like crown that is the reason it is named as Corona virus. this virus increase diseases in animals. But some times this virus creates new diseases in Human Beings

in 2003 due to SARS virus  774 people died in world. 
in 2014 due to MARS virus total 858 died in world.

2019 December Corona virus started again. WHO named this virus as 2019 Novel Corona Virus (2019nCoV).

This Virus will attack on Healthy Cells. Corona is a bit family.  This kind of virus can be seen in animals like snakes, rats, Crocodiles, Pigs etc. 
Telugu Videos about Corona Virus(COVID-19) Explained in Telugu

Symptoms: Cold, Cough, Fever

This virus will enter the body through Nose, Mouth and Eyes. Human white blood cell will fight with Corona Virus in the body and they will try to eliminate the virus. During this process we will get cough cold. Which coughing this virus will be ejected from month. The Corona Virus finds a host cell in the respiratory system first and it will show its bad ipact on the host cell. The host cell then bursts and infects other cells nearby it. 

The Novel Corona virus is transmitted between humans in droplets from coughing and sneezing and touching or shaking hands. Most of the victims of the virus die from complications including pneumonia and swelling in the lungs. The virus also causes swelling in the respiratory system, which can make us hard for the lungs to pass oxygen in the bloodstream - leading to organ failure and death.

Watch the Video Here



Watch the Video Here



Telugu Videos about Corona Virus(COVID-19) Explained in Telugu


Shape of the virus is like crown that is the reason it is named as Corona virus. this virus increase diseases in animals. But some times this virus creates new diseases in Human Beings

in 2003 due to SARS virus  774 people died in world. 
in 2014 due to MARS virus total 858 died in world.

2019 December Corona virus started again. WHO named this virus as 2019 Novel Corona Virus (2019nCoV).

This Virus will attack on Healthy Cells. Corona is a bit family.  This kind of virus can be seen in animals like snakes, rats, Crocodiles, Pigs etc. 
Telugu Videos about Corona Virus(COVID-19) Explained in Telugu

Symptoms: Cold, Cough, Fever

This virus will enter the body through Nose, Mouth and Eyes. Human white blood cell will fight with Corona Virus in the body and they will try to eliminate the virus. During this process we will get cough cold. Which coughing this virus will be ejected from month. The Corona Virus finds a host cell in the respiratory system first and it will show its bad ipact on the host cell. The host cell then bursts and infects other cells nearby it. 

The Novel Corona virus is transmitted between humans in droplets from coughing and sneezing and touching or shaking hands. Most of the victims of the virus die from complications including pneumonia and swelling in the lungs. The virus also causes swelling in the respiratory system, which can make us hard for the lungs to pass oxygen in the bloodstream - leading to organ failure and death.

Watch the Video Here



Watch the Video Here



RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact

RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact


The Reserve Bank of India (RBI) finally bit the bullet on Friday and responded to the coronavirus-induced crisis with a whopping 75 basis points cut in the repo rate, bringing it down to 4.4 per cent. The central bank also lowered the reverse repo rate by 90 basis points.

The central bank advanced the policy review and the Moterary Policy Committee met over March 24, 25 and 26 to analyse the situation caused by the unprecedented lockdown of the nation and all business activities, before ..
RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact

In view of the COVID-19 pandemic, the Monetary Policy Committee (MPC) decided to advance its meeting scheduled for 31st March, 1st and 3rd April 2020. It met on 24th, 26th and 27th March and undertook a careful evaluation of the current and evolving macroeconomic and financial conditions, and the outlook. I wish to take this opportunity to express my deep gratitude to the MPC members for their swift response to the unprecedented situation and for their valuable contribution to the monetary policy decision taken today. I also wish to thank our teams in the RBI for their continued high-quality support to the MPC’s work through their hard work, research and logistics.

2. After extensive discussions, the MPC voted unanimously for a sizeable reduction in the policy repo rate and for maintaining the accommodative stance of monetary policy as long as necessary to revive growth, mitigate the impact of COVID-19, while ensuring that inflation remains within the target. While there were some differences in the quantum of reduction, the MPC voted with a 4-2 majority to reduce the policy rate by 75 basis points to 4.4 per cent.


3. Simultaneously, the fixed rate reverse repo rate, which sets the floor of the liquidity adjustment facility (LAF) corridor, was reduced by 90 basis points to 4.0 per cent, thus creating an asymmetrical corridor. The purpose of this measure relating to reverse repo rate is to make it relatively unattractive for banks to passively deposit funds with the Reserve Bank and instead, to use these funds for on-lending to productive sectors of the economy. It may be recalled that during the month of March so far, banks have been parking close to ₹ 3 lakh crore on a daily average basis under the reverse repo, even as the growth of bank credit has been steadily slowing down.

4. This decision and its advancement has been warranted by the destructive force of the corona virus. It is intended to (a) mitigate the negative effects of the virus; (b) revive growth; and above all, (c) preserve financial stability.

5. We are living through an extraordinary and unprecedented situation. Everything hinges on the depth of the COVID-19 outbreak, its spread and its duration. Clearly, a war effort has to be mounted and is being mounted to combat the virus, involving both conventional and unconventional measures in continuous battle-ready mode. Life in the time of COVID-19 has been one of unprecedented loss and isolation. Yet, it is worthwhile to remember that tough times never last; only tough people and tough institutions do.

6. In the recent period, the Reserve Bank has been in action on a daily basis with efforts to alleviate financial stress, build confidence and keep the financial system sound and functioning. Measures taken by the Reserve Bank are given below.

a cumulative reduction in the policy repo rate of 135 basis points;

accommodative stance of monetary policy as long as necessary to revive growth, while keeping inflation within the target.

two USD buy/sell swap auction of USD 5 billion each conducted on March 26 and April 23, 2019, injecting liquidity into the banking system amounting to ₹ 34,561 crore and ₹ 34,874 crore, respectively.

seven open market purchases, injecting ₹ 92,500 crore into the system.

four simultaneous purchase and sale of government securities under Open Market Operations (special OMOs or what is known as operation twist) during December and January (December 23 and 30, 2019 and January 6 and 23, 2020) to ensure better monetary policy transmission.

five long term repo operations (LTROs) between February 17 and March 18, 2020 for one-year and three-year tenors amounting to ₹ 1,25,000 crore of durable liquidity at reasonable cost (fixed repo rate).

exemption on incremental credit disbursed by banks between January 31 - July 31, 2020 on retail loans for automobiles, residential housing and loans to micro, small and medium enterprises (MSMEs) from the maintenance of cash reserve ratio (CRR).

two 6-month US Dollar sell/buy swap auction providing dollar liquidity amounting to USD 2.71 billion.

fine-tuning variable rate repo auctions of ₹ 50,000 crore and ₹ 25,000 crore of 8 days and 3 days maturity on March 26 and March 31, respectively, with standalone primary dealers (SPDs) allowed to participate.

fine-tuning variable rate Repo auction of 16-day maturity amounting to ₹ 81,585 crore on March 23-24, 2020.

The amount under the Standing Liquidity Facility (SLF) available for standalone primary dealers was enhanced from ₹ 2,800 crore to ₹ 10,000 crore on March 24, 2020 and this will be available till April 17, 2020.

7. Let me assure all that the Reserve Bank is at work and in mission mode, monitoring the evolving financial market and macro-economic conditions; and calibrating its operations to meet any need for additional liquidity support as well as other measures, as may be warranted. It is our effort to ensure normal functioning of markets, nurture the impulses of growth and preserve financial stability. Incidentally, we have quarantined 150 members of our staff and service providers together with the IT facilitators as a part of our Business Continuity Plan (BCP). The plan was prepared and executed in a matter of days.

8. The MPC noted that global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed. The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession.

9. Turning to growth in India, the implied real GDP growth of 4.7 per cent for Q4:2019-20 in the second advance estimates of the National Statistics Office, released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk from the pandemic’s impact on the economy. As regards the outlook for 2020-21, apart from the continuing resilience of agriculture and allied activities, most other sectors of the economy will be adversely impacted by the pandemic, depending upon, I repeat, its intensity, spread and duration. If COVID-19 is prolonged and supply chain disruptions get accentuated, the global slowdown could deepen, with adverse implications for India. The slump in international crude prices could, however, provide some relief in the form of terms of trade gains. Downside risks to growth arise from the spread of COVID-19 and prolonged lockdowns. Upside growth impulses are expected to emanate from monetary, fiscal and other policy measures and the early containment of COVID-19.


10. As regards inflation, the prints for January and February 2020 indicate that actual outcomes for the quarter are running 30 bps above projections, reflecting the onion price shock. Looking ahead, food prices may soften even further under the beneficial effects of the record foodgrains and horticulture production, at least till the onset of the usual summer uptick. Furthermore, the collapse in crude prices should work towards easing both fuel and core inflation pressures, depending on the level of the pass-through to retail prices. As a consequence of COVID-19, aggregate demand may weaken and ease core inflation further. Heightened volatility in financial markets could also have a bearing on inflation. Given this heightened volatility, unprecedented uncertainty and extremely fluid state of affairs, projections of growth and inflation would be heavily contingent on the intensity, spread and duration of COVID-19. Precisely for these reasons, the MPC refrained from giving out specific growth and inflation numbers.

11. The MPC noted that macroeconomic risks, both on the demand and supply sides, brought on by the pandemic could be severe. The need of the hour is to do whatever is necessary to shield the domestic economy from the pandemic. Central banks across the world have responded with monetary and regulatory measures – both conventional and unconventional. Governments across the world have unleashed massive fiscal measures, including targeted health services support, to protect economic activity from the impact of the virus. The Government of India has yesterday announced a number of measures. The MPC further noted that the Reserve Bank has taken several measures to inject substantial liquidity in the system. Nonetheless, the priority is to undertake strong and purposeful action in order to minimise the adverse macroeconomic impact of the pandemic. It also underscored the need for all stakeholders to fight against the pandemic. Banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed. Market participants should work with regulators like the Reserve Bank and the SEBI to ensure the orderly functioning of markets in their role of price discovery and financial intermediation. Strong fiscal measures are of course critical to deal with the situation.

12. To summarise, COVID-19 stalks the global economy and the outlook is highly uncertain and negative. Several nations are battling its exponential contagion; countries are shutting down to prevent being sucked into that black hole. Authorities all over the world are mobilising on a massive scale to fight an invisible assassin. India has locked down. Economic activity and financial markets are under severe stress. Finance is the lifeline of the economy. Keeping it flowing is the paramount objective. The time has come for the Reserve Bank to unleash an array of instruments from its arsenal to staunch and mitigate the impact of COVID-19, revive growth and, above all, preserve financial stability. The aggressive action and stance of the MPC provides a befitting launching pad. In turn, the configuration of initiatives unveiled in the Statement on Developmental and Regulatory Policies - which I am now going to announce - amplify the MPC’s decision and leverages on it as well. Accordingly, it is appropriate that the MPC’s decision and the Reserve Bank’s actions be regarded as a comprehensive package with force multipliers.


13. The developmental and regulatory policies can be broadly delineated under four categories:

(1) measures to expand liquidity in the system sizeably to ensure that financial markets and institutions are able to function normally in the face of COVID-19 related dislocations;

(2) steps to reinforce monetary transmission so that bank credit flows on easier terms are sustained to all those who have been affected by the pandemic;

(3) efforts to ease financial stress caused by COVID-19 disruptions by relaxing repayment pressures and improving access to working capital; and

(4) endeavor to improve the functioning of markets in view of the high volatility experienced with the onset and spread of the pandemic.

I. Liquidity Measures

14. A multi-pronged approach, comprising both targeted and system-wide liquidity provision, has been adopted to ensure that COVID-19 related liquidity constraints are eased.

Targeted Long Term Repo Operations (TLTRO)


15. Large sell-offs in the domestic equity, bond and forex markets have intensified redemption pressures. Liquidity premia on instruments such as corporate bonds, commercial paper and debentures have surged. Financial conditions for these instruments, which are used, inter alia, to access working capital in the face of the slowdown in bank credit, have also tightened. To mitigate the adverse effects on economic activity leading to pressures on cash flows across sectors, the Reserve Bank will conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crore at a floating rate, linked to the policy repo rate. Liquidity availed under the scheme by banks has to be deployed in investment grade corporate bonds, commercial paper and non-convertible debentures over and above the outstanding level of their investments in these bonds as on March 25, 2020. Eligible instruments comprise both primary market issuances and secondary market purchases, including from mutual funds and non-banking finance companies. Investments made by banks under this facility will be classified as held to maturity (HTM) even in excess of 25 per cent of total investment permitted to be included in the HTM portfolio. Exposures under this facility will also not be reckoned under the large exposure framework. The first auction of ₹ 25,000 crore will be conducted today. The relevant notification is being issued separately.

Cash Reserve Ratio

16. It is observed that, despite ample liquidity in the system, its distribution is highly asymmetrical across the financial system, and starkly so within the banking system. To help banks tide over the disruption caused by COVID-19, it has been decided to reduce the cash reserve ratio (CRR) of all banks by 100 basis points to 3.0 per cent of net demand and time liabilities (NDTL) with effect from the reporting fortnight beginning March 28, 2020 for a period of one year. This reduction in the CRR would release primary liquidity of about ₹ 1,37,000 crore uniformly across the banking system in proportion to liabilities of constituents rather than in relation to holdings of excess SLR.

17. Furthermore, taking cognisance of hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, it has been decided to reduce the requirement of minimum daily CRR balance maintenance from 90 per cent to 80 per cent, effective from the first day of the reporting fortnight beginning March 28, 2020. This is a one-time dispensation available up to June 26, 2020.

Marginal Standing Facility

18. In view of the exceptionally high volatility in domestic financial markets which brings in phases of liquidity stress and to provide comfort to the banking system, it has been decided to increase the accommodation under the marginal standing facility (MSF) from 2 per cent of the statutory liquidity ratio (SLR) to 3 per cent with immediate effect. This measure will be applicable up to June 30, 2020. This measure should provide comfort to the banking system by allowing it to avail an additional ₹ 1,37,000 crore of liquidity under the LAF window in times of stress at the reduced MSF rate announced in the MPC’s resolution.


19. These three measures relating to TLTRO, CRR and MSF will inject a total liquidity of ₹ 3.74 lakh crore to the system.

Widening of the Monetary Policy Rate Corridor

20. In view of persistent excess liquidity, it has been decided to widen the existing policy rate corridor from 50 bps to 65 bps. Under the new corridor, the reverse repo rate under the liquidity adjustment facility (LAF) would be 40 bps lower than the policy repo rate, as against existing 25 bps. The marginal standing facility (MSF) rate would continue to be 25 bps above the policy repo rate.

II. Regulation and Supervision

21. Alongside liquidity measures, it is important that steps are taken to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic. Such steps, in turn, will go a long way to prevent the transmission of financial stress to the real economy, and ensure the continuity of viable businesses and provide relief to borrowers in these extraordinarily troubled times. These measures include moratorium on term loans; deferring interest payments on working capital; easing of working capital financing; deferment of implementation of the net stable funding ratio; and the last tranche of the capital conservation buffer.

Moratorium on Term Loans

22. All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) (“lending institutions”) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020.

Deferment of Interest on Working Capital Facilities

23. In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are being permitted to allow a deferment of three months on payment of interest in respect of all such facilities outstanding as on March 1, 2020. The accumulated interest for the period will be paid after the expiry of the deferment period.

The moratorium on term loans and the deferring of interest payments on working capital will not result in asset classification downgrade.

Easing of Working Capital Financing

24. In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are allowed to recalculate drawing power by reducing margins and/or by reassessing the working capital cycle for the borrowers. Such changes will not result in asset classification downgrade.

25. The moratorium on term loans, the deferring of interest payments on working capital and the easing of working capital financing will not qualify as a default for the purposes of supervisory reporting and reporting to credit information companies (CICs) by the lending institutions. Hence, there will be no adverse impact on the credit history of the beneficiaries.

Deferment of Implementation of Net Stable Funding Ratio (NSFR)

26. The Net Stable Funding Ratio (NSFR), which reduces funding risk by requiring banks to fund their activities with sufficiently stable sources of funding over a time horizon of a year in order to mitigate the risk of future funding stress, was required to be introduced by banks in India from April 1, 2020. It has now been decided to defer the implementation of NSFR by six months to October 1, 2020.

Deferment of Last Tranche of Capital Conservation Buffer

27. The capital conservation buffer (CCB) is designed to ensure that banks build up capital buffers during normal times (i.e., outside periods of stress) which can be drawn down as losses are incurred during a stressed period. Considering the potential stress on account of COVID-19, it has been decided to further defer the implementation of the last tranche of 0.625 per cent of the CCB from March 31, 2020 to September 30, 2020.

III. Financial Markets

28. The measure for financial markets assumes importance in the context of the increased volatility of the rupee caused by the impact of Covid-19 on currency markets.

Permitting Banks to Deal in Offshore Non-deliverable Rupee derivative Markets (Offshore Rupee NDF Markets)

29. The offshore Indian Rupee (INR) derivative market - the Non-Deliverable Forward (NDF) market - has been growing rapidly in recent times. At present, Indian banks are not permitted to participate in this market, although the benefits of their participation in the NDF market have been widely recognised. The time is apposite to improve efficiency of price discovery. Accordingly, banks in India which operate International Financial Services Centre (IFSC) Banking Units (IBUs) are being allowed to participate in the NDF market with effect from June 1, 2020.

30. Since the last MPC meeting of February 2020, the Reserve Bank has injected liquidity of ₹ 2.8 lakh crore through various instruments, equivalent to 1.4 per cent of our GDP. Together with the measures announced today, RBI’s liquidity injection works out to about 3.2 per cent of GDP.

31. The RBI will continue to remain vigilant and take whatever steps are necessary to mitigate the economic impact of COVID-19 and preserve financial stability. As I had stated earlier, all instruments – conventional and unconventional – are on the table.

32. Before I conclude, let me reiterate that the Indian banking system is safe and sound. In the recent past, COVID-19 related volatility in the stock market has impacted share prices of banks as well, resulting in some panic withdrawal of deposits from a few private sector banks. It would be fallacious to link share prices to safety of deposits. As I have mentioned in my earlier interaction with the media, depositors of commercial banks including private sector banks need not worry on the safety of their funds. I would, therefore, urge members of public as well as the public authorities, who have deposits in private sector banks, not to resort to any panic withdrawal of their funds.

33. In conclusion, let me say that, in spite of the very challenging environment, I remain optimistic. It is worthwhile bearing in mind that the macroeconomic fundamentals of the Indian economy are sound and, in fact, stronger than what they were in the aftermath of the global financial crisis – the fiscal deficit and the current account deficit are now much lower; inflation conditions are relatively benign; and financial volatility measured by change in stock prices from recent peaks and average daily change in the exchange rate of the rupee is distinctly lower. COVID-19 is upon us; but this too shall pass. We need to remain careful and take all precautionary measures. I leave you with this comforting thought. Stay clean. Stay safe. Go digital.



RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact


The Reserve Bank of India (RBI) finally bit the bullet on Friday and responded to the coronavirus-induced crisis with a whopping 75 basis points cut in the repo rate, bringing it down to 4.4 per cent. The central bank also lowered the reverse repo rate by 90 basis points.

The central bank advanced the policy review and the Moterary Policy Committee met over March 24, 25 and 26 to analyse the situation caused by the unprecedented lockdown of the nation and all business activities, before ..
RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact

In view of the COVID-19 pandemic, the Monetary Policy Committee (MPC) decided to advance its meeting scheduled for 31st March, 1st and 3rd April 2020. It met on 24th, 26th and 27th March and undertook a careful evaluation of the current and evolving macroeconomic and financial conditions, and the outlook. I wish to take this opportunity to express my deep gratitude to the MPC members for their swift response to the unprecedented situation and for their valuable contribution to the monetary policy decision taken today. I also wish to thank our teams in the RBI for their continued high-quality support to the MPC’s work through their hard work, research and logistics.

2. After extensive discussions, the MPC voted unanimously for a sizeable reduction in the policy repo rate and for maintaining the accommodative stance of monetary policy as long as necessary to revive growth, mitigate the impact of COVID-19, while ensuring that inflation remains within the target. While there were some differences in the quantum of reduction, the MPC voted with a 4-2 majority to reduce the policy rate by 75 basis points to 4.4 per cent.


3. Simultaneously, the fixed rate reverse repo rate, which sets the floor of the liquidity adjustment facility (LAF) corridor, was reduced by 90 basis points to 4.0 per cent, thus creating an asymmetrical corridor. The purpose of this measure relating to reverse repo rate is to make it relatively unattractive for banks to passively deposit funds with the Reserve Bank and instead, to use these funds for on-lending to productive sectors of the economy. It may be recalled that during the month of March so far, banks have been parking close to ₹ 3 lakh crore on a daily average basis under the reverse repo, even as the growth of bank credit has been steadily slowing down.

4. This decision and its advancement has been warranted by the destructive force of the corona virus. It is intended to (a) mitigate the negative effects of the virus; (b) revive growth; and above all, (c) preserve financial stability.

5. We are living through an extraordinary and unprecedented situation. Everything hinges on the depth of the COVID-19 outbreak, its spread and its duration. Clearly, a war effort has to be mounted and is being mounted to combat the virus, involving both conventional and unconventional measures in continuous battle-ready mode. Life in the time of COVID-19 has been one of unprecedented loss and isolation. Yet, it is worthwhile to remember that tough times never last; only tough people and tough institutions do.

6. In the recent period, the Reserve Bank has been in action on a daily basis with efforts to alleviate financial stress, build confidence and keep the financial system sound and functioning. Measures taken by the Reserve Bank are given below.

a cumulative reduction in the policy repo rate of 135 basis points;

accommodative stance of monetary policy as long as necessary to revive growth, while keeping inflation within the target.

two USD buy/sell swap auction of USD 5 billion each conducted on March 26 and April 23, 2019, injecting liquidity into the banking system amounting to ₹ 34,561 crore and ₹ 34,874 crore, respectively.

seven open market purchases, injecting ₹ 92,500 crore into the system.

four simultaneous purchase and sale of government securities under Open Market Operations (special OMOs or what is known as operation twist) during December and January (December 23 and 30, 2019 and January 6 and 23, 2020) to ensure better monetary policy transmission.

five long term repo operations (LTROs) between February 17 and March 18, 2020 for one-year and three-year tenors amounting to ₹ 1,25,000 crore of durable liquidity at reasonable cost (fixed repo rate).

exemption on incremental credit disbursed by banks between January 31 - July 31, 2020 on retail loans for automobiles, residential housing and loans to micro, small and medium enterprises (MSMEs) from the maintenance of cash reserve ratio (CRR).

two 6-month US Dollar sell/buy swap auction providing dollar liquidity amounting to USD 2.71 billion.

fine-tuning variable rate repo auctions of ₹ 50,000 crore and ₹ 25,000 crore of 8 days and 3 days maturity on March 26 and March 31, respectively, with standalone primary dealers (SPDs) allowed to participate.

fine-tuning variable rate Repo auction of 16-day maturity amounting to ₹ 81,585 crore on March 23-24, 2020.

The amount under the Standing Liquidity Facility (SLF) available for standalone primary dealers was enhanced from ₹ 2,800 crore to ₹ 10,000 crore on March 24, 2020 and this will be available till April 17, 2020.

7. Let me assure all that the Reserve Bank is at work and in mission mode, monitoring the evolving financial market and macro-economic conditions; and calibrating its operations to meet any need for additional liquidity support as well as other measures, as may be warranted. It is our effort to ensure normal functioning of markets, nurture the impulses of growth and preserve financial stability. Incidentally, we have quarantined 150 members of our staff and service providers together with the IT facilitators as a part of our Business Continuity Plan (BCP). The plan was prepared and executed in a matter of days.

8. The MPC noted that global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed. The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession.

9. Turning to growth in India, the implied real GDP growth of 4.7 per cent for Q4:2019-20 in the second advance estimates of the National Statistics Office, released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk from the pandemic’s impact on the economy. As regards the outlook for 2020-21, apart from the continuing resilience of agriculture and allied activities, most other sectors of the economy will be adversely impacted by the pandemic, depending upon, I repeat, its intensity, spread and duration. If COVID-19 is prolonged and supply chain disruptions get accentuated, the global slowdown could deepen, with adverse implications for India. The slump in international crude prices could, however, provide some relief in the form of terms of trade gains. Downside risks to growth arise from the spread of COVID-19 and prolonged lockdowns. Upside growth impulses are expected to emanate from monetary, fiscal and other policy measures and the early containment of COVID-19.


10. As regards inflation, the prints for January and February 2020 indicate that actual outcomes for the quarter are running 30 bps above projections, reflecting the onion price shock. Looking ahead, food prices may soften even further under the beneficial effects of the record foodgrains and horticulture production, at least till the onset of the usual summer uptick. Furthermore, the collapse in crude prices should work towards easing both fuel and core inflation pressures, depending on the level of the pass-through to retail prices. As a consequence of COVID-19, aggregate demand may weaken and ease core inflation further. Heightened volatility in financial markets could also have a bearing on inflation. Given this heightened volatility, unprecedented uncertainty and extremely fluid state of affairs, projections of growth and inflation would be heavily contingent on the intensity, spread and duration of COVID-19. Precisely for these reasons, the MPC refrained from giving out specific growth and inflation numbers.

11. The MPC noted that macroeconomic risks, both on the demand and supply sides, brought on by the pandemic could be severe. The need of the hour is to do whatever is necessary to shield the domestic economy from the pandemic. Central banks across the world have responded with monetary and regulatory measures – both conventional and unconventional. Governments across the world have unleashed massive fiscal measures, including targeted health services support, to protect economic activity from the impact of the virus. The Government of India has yesterday announced a number of measures. The MPC further noted that the Reserve Bank has taken several measures to inject substantial liquidity in the system. Nonetheless, the priority is to undertake strong and purposeful action in order to minimise the adverse macroeconomic impact of the pandemic. It also underscored the need for all stakeholders to fight against the pandemic. Banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed. Market participants should work with regulators like the Reserve Bank and the SEBI to ensure the orderly functioning of markets in their role of price discovery and financial intermediation. Strong fiscal measures are of course critical to deal with the situation.

12. To summarise, COVID-19 stalks the global economy and the outlook is highly uncertain and negative. Several nations are battling its exponential contagion; countries are shutting down to prevent being sucked into that black hole. Authorities all over the world are mobilising on a massive scale to fight an invisible assassin. India has locked down. Economic activity and financial markets are under severe stress. Finance is the lifeline of the economy. Keeping it flowing is the paramount objective. The time has come for the Reserve Bank to unleash an array of instruments from its arsenal to staunch and mitigate the impact of COVID-19, revive growth and, above all, preserve financial stability. The aggressive action and stance of the MPC provides a befitting launching pad. In turn, the configuration of initiatives unveiled in the Statement on Developmental and Regulatory Policies - which I am now going to announce - amplify the MPC’s decision and leverages on it as well. Accordingly, it is appropriate that the MPC’s decision and the Reserve Bank’s actions be regarded as a comprehensive package with force multipliers.


13. The developmental and regulatory policies can be broadly delineated under four categories:

(1) measures to expand liquidity in the system sizeably to ensure that financial markets and institutions are able to function normally in the face of COVID-19 related dislocations;

(2) steps to reinforce monetary transmission so that bank credit flows on easier terms are sustained to all those who have been affected by the pandemic;

(3) efforts to ease financial stress caused by COVID-19 disruptions by relaxing repayment pressures and improving access to working capital; and

(4) endeavor to improve the functioning of markets in view of the high volatility experienced with the onset and spread of the pandemic.

I. Liquidity Measures

14. A multi-pronged approach, comprising both targeted and system-wide liquidity provision, has been adopted to ensure that COVID-19 related liquidity constraints are eased.

Targeted Long Term Repo Operations (TLTRO)


15. Large sell-offs in the domestic equity, bond and forex markets have intensified redemption pressures. Liquidity premia on instruments such as corporate bonds, commercial paper and debentures have surged. Financial conditions for these instruments, which are used, inter alia, to access working capital in the face of the slowdown in bank credit, have also tightened. To mitigate the adverse effects on economic activity leading to pressures on cash flows across sectors, the Reserve Bank will conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crore at a floating rate, linked to the policy repo rate. Liquidity availed under the scheme by banks has to be deployed in investment grade corporate bonds, commercial paper and non-convertible debentures over and above the outstanding level of their investments in these bonds as on March 25, 2020. Eligible instruments comprise both primary market issuances and secondary market purchases, including from mutual funds and non-banking finance companies. Investments made by banks under this facility will be classified as held to maturity (HTM) even in excess of 25 per cent of total investment permitted to be included in the HTM portfolio. Exposures under this facility will also not be reckoned under the large exposure framework. The first auction of ₹ 25,000 crore will be conducted today. The relevant notification is being issued separately.

Cash Reserve Ratio

16. It is observed that, despite ample liquidity in the system, its distribution is highly asymmetrical across the financial system, and starkly so within the banking system. To help banks tide over the disruption caused by COVID-19, it has been decided to reduce the cash reserve ratio (CRR) of all banks by 100 basis points to 3.0 per cent of net demand and time liabilities (NDTL) with effect from the reporting fortnight beginning March 28, 2020 for a period of one year. This reduction in the CRR would release primary liquidity of about ₹ 1,37,000 crore uniformly across the banking system in proportion to liabilities of constituents rather than in relation to holdings of excess SLR.

17. Furthermore, taking cognisance of hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements, it has been decided to reduce the requirement of minimum daily CRR balance maintenance from 90 per cent to 80 per cent, effective from the first day of the reporting fortnight beginning March 28, 2020. This is a one-time dispensation available up to June 26, 2020.

Marginal Standing Facility

18. In view of the exceptionally high volatility in domestic financial markets which brings in phases of liquidity stress and to provide comfort to the banking system, it has been decided to increase the accommodation under the marginal standing facility (MSF) from 2 per cent of the statutory liquidity ratio (SLR) to 3 per cent with immediate effect. This measure will be applicable up to June 30, 2020. This measure should provide comfort to the banking system by allowing it to avail an additional ₹ 1,37,000 crore of liquidity under the LAF window in times of stress at the reduced MSF rate announced in the MPC’s resolution.


19. These three measures relating to TLTRO, CRR and MSF will inject a total liquidity of ₹ 3.74 lakh crore to the system.

Widening of the Monetary Policy Rate Corridor

20. In view of persistent excess liquidity, it has been decided to widen the existing policy rate corridor from 50 bps to 65 bps. Under the new corridor, the reverse repo rate under the liquidity adjustment facility (LAF) would be 40 bps lower than the policy repo rate, as against existing 25 bps. The marginal standing facility (MSF) rate would continue to be 25 bps above the policy repo rate.

II. Regulation and Supervision

21. Alongside liquidity measures, it is important that steps are taken to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic. Such steps, in turn, will go a long way to prevent the transmission of financial stress to the real economy, and ensure the continuity of viable businesses and provide relief to borrowers in these extraordinarily troubled times. These measures include moratorium on term loans; deferring interest payments on working capital; easing of working capital financing; deferment of implementation of the net stable funding ratio; and the last tranche of the capital conservation buffer.

Moratorium on Term Loans

22. All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) (“lending institutions”) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020.

Deferment of Interest on Working Capital Facilities

23. In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are being permitted to allow a deferment of three months on payment of interest in respect of all such facilities outstanding as on March 1, 2020. The accumulated interest for the period will be paid after the expiry of the deferment period.

The moratorium on term loans and the deferring of interest payments on working capital will not result in asset classification downgrade.

Easing of Working Capital Financing

24. In respect of working capital facilities sanctioned in the form of cash credit/overdraft, lending institutions are allowed to recalculate drawing power by reducing margins and/or by reassessing the working capital cycle for the borrowers. Such changes will not result in asset classification downgrade.

25. The moratorium on term loans, the deferring of interest payments on working capital and the easing of working capital financing will not qualify as a default for the purposes of supervisory reporting and reporting to credit information companies (CICs) by the lending institutions. Hence, there will be no adverse impact on the credit history of the beneficiaries.

Deferment of Implementation of Net Stable Funding Ratio (NSFR)

26. The Net Stable Funding Ratio (NSFR), which reduces funding risk by requiring banks to fund their activities with sufficiently stable sources of funding over a time horizon of a year in order to mitigate the risk of future funding stress, was required to be introduced by banks in India from April 1, 2020. It has now been decided to defer the implementation of NSFR by six months to October 1, 2020.

Deferment of Last Tranche of Capital Conservation Buffer

27. The capital conservation buffer (CCB) is designed to ensure that banks build up capital buffers during normal times (i.e., outside periods of stress) which can be drawn down as losses are incurred during a stressed period. Considering the potential stress on account of COVID-19, it has been decided to further defer the implementation of the last tranche of 0.625 per cent of the CCB from March 31, 2020 to September 30, 2020.

III. Financial Markets

28. The measure for financial markets assumes importance in the context of the increased volatility of the rupee caused by the impact of Covid-19 on currency markets.

Permitting Banks to Deal in Offshore Non-deliverable Rupee derivative Markets (Offshore Rupee NDF Markets)

29. The offshore Indian Rupee (INR) derivative market - the Non-Deliverable Forward (NDF) market - has been growing rapidly in recent times. At present, Indian banks are not permitted to participate in this market, although the benefits of their participation in the NDF market have been widely recognised. The time is apposite to improve efficiency of price discovery. Accordingly, banks in India which operate International Financial Services Centre (IFSC) Banking Units (IBUs) are being allowed to participate in the NDF market with effect from June 1, 2020.

30. Since the last MPC meeting of February 2020, the Reserve Bank has injected liquidity of ₹ 2.8 lakh crore through various instruments, equivalent to 1.4 per cent of our GDP. Together with the measures announced today, RBI’s liquidity injection works out to about 3.2 per cent of GDP.

31. The RBI will continue to remain vigilant and take whatever steps are necessary to mitigate the economic impact of COVID-19 and preserve financial stability. As I had stated earlier, all instruments – conventional and unconventional – are on the table.

32. Before I conclude, let me reiterate that the Indian banking system is safe and sound. In the recent past, COVID-19 related volatility in the stock market has impacted share prices of banks as well, resulting in some panic withdrawal of deposits from a few private sector banks. It would be fallacious to link share prices to safety of deposits. As I have mentioned in my earlier interaction with the media, depositors of commercial banks including private sector banks need not worry on the safety of their funds. I would, therefore, urge members of public as well as the public authorities, who have deposits in private sector banks, not to resort to any panic withdrawal of their funds.

33. In conclusion, let me say that, in spite of the very challenging environment, I remain optimistic. It is worthwhile bearing in mind that the macroeconomic fundamentals of the Indian economy are sound and, in fact, stronger than what they were in the aftermath of the global financial crisis – the fiscal deficit and the current account deficit are now much lower; inflation conditions are relatively benign; and financial volatility measured by change in stock prices from recent peaks and average daily change in the exchange rate of the rupee is distinctly lower. COVID-19 is upon us; but this too shall pass. We need to remain careful and take all precautionary measures. I leave you with this comforting thought. Stay clean. Stay safe. Go digital.



Thursday, 26 March 2020

Pradhan Mantri Garib Kalyan Yojana 1.7 lakh crore package

Pradhan Mantri Garib Kalyan Yojana 


Pradhan Mantri Garib Kalyan Yojana was launched by the Indian government in 2016 wherein income taxpayers are given the opportunity to forgo prosecution by declaring their illegal money and paying 50% penalty on their unaccounted incomes

During this critical situation of COVID-19(Corona Virus) Finance minister Nirmala Sitharaman announced a Rs 1.7 lakh crore package under the PM Garib Kalyan Yojna, this may bring relief to urban and rural poor, migrant workers and women in the bottom rung of the socio-economic statuses.

Details of the package of 1.7 lakhs crores announced on 26-Mar-2020


Under this scheme, Government will pay the EPF contribution for both employer and employee about 24% for next three months.

Rs 500 will be given to the women who hold bank account under jan dhan yojaya.

75% of Non-refundable advance from the scheme of EPFO will be provided to the workers.

Sitharam announced mediacal insurance of Rs 50 lakhs to each Asha Worker, Paramedics, Nurse and other persons who are working on the frontlines of fighting the Corona Virus across the country, which will make benefit to 20 lakh people.

Due to this package, No one will go hungry, The finance minister said on 26th march 2020.

Under PM Garib kalyan Ann Yojana 80 crore poor people will get 5 KG rice or wheat each month for next three months free of charge, in addition to the 5 KG they already get. Each household will get 1 KG of Daal.
Pradhan Mantri Garib Kalyan Yojana

Under 1.7 lakh crore package, 8.3 Below powerty line families will be given free LPG (Gas) Cylinders for three months and women self help groups in the villages will be able to take collateral free loans up to 20 lakhs.

Sitharaman said the first instalment of Rs 2,000 under the Pradhan Mantri Kisan Samman Nidhi or PM Kishan scheme will be transferred to the accounts of 8.69 crore farmers in April. The scheme provides Rs 6000 per year.

The government has also hiked regular wages to 202 per day from 182 per day under the MGNREGA.

Rs 1000 will be given to elderly poor, widows and Physically Chanllenged people in two instalments over the next three months.

Pradhan Mantri Garib Kalyan Yojana 


Pradhan Mantri Garib Kalyan Yojana was launched by the Indian government in 2016 wherein income taxpayers are given the opportunity to forgo prosecution by declaring their illegal money and paying 50% penalty on their unaccounted incomes

During this critical situation of COVID-19(Corona Virus) Finance minister Nirmala Sitharaman announced a Rs 1.7 lakh crore package under the PM Garib Kalyan Yojna, this may bring relief to urban and rural poor, migrant workers and women in the bottom rung of the socio-economic statuses.

Details of the package of 1.7 lakhs crores announced on 26-Mar-2020


Under this scheme, Government will pay the EPF contribution for both employer and employee about 24% for next three months.

Rs 500 will be given to the women who hold bank account under jan dhan yojaya.

75% of Non-refundable advance from the scheme of EPFO will be provided to the workers.

Sitharam announced mediacal insurance of Rs 50 lakhs to each Asha Worker, Paramedics, Nurse and other persons who are working on the frontlines of fighting the Corona Virus across the country, which will make benefit to 20 lakh people.

Due to this package, No one will go hungry, The finance minister said on 26th march 2020.

Under PM Garib kalyan Ann Yojana 80 crore poor people will get 5 KG rice or wheat each month for next three months free of charge, in addition to the 5 KG they already get. Each household will get 1 KG of Daal.
Pradhan Mantri Garib Kalyan Yojana

Under 1.7 lakh crore package, 8.3 Below powerty line families will be given free LPG (Gas) Cylinders for three months and women self help groups in the villages will be able to take collateral free loans up to 20 lakhs.

Sitharaman said the first instalment of Rs 2,000 under the Pradhan Mantri Kisan Samman Nidhi or PM Kishan scheme will be transferred to the accounts of 8.69 crore farmers in April. The scheme provides Rs 6000 per year.

The government has also hiked regular wages to 202 per day from 182 per day under the MGNREGA.

Rs 1000 will be given to elderly poor, widows and Physically Chanllenged people in two instalments over the next three months.

Wednesday, 25 March 2020

Corona Help Desk through Telegram Channel by Government of India

Corona Help Desk through Telegram Channel by Government of India


The Government of India has started help services to stop the spread of Novel Corona in India. Citizen of Telangana can avail this service facility in their mobile phones. Government of India wants to create awareness on spread Corona in the country and guide the people on how to stay safe from Corona viruses. In this regards Government of India has created a Telegram Channel for all citizens.  All the video and posters created on Corona virus will be posted in this telegram channel. 
Corona Help Desk through Telegram Channel by Central Government

Citizen of India can join this telegram channel and know the facts about the Novel Corona(COVID-19).

The Government of India is taking efforts to create awareness among the people regarding spread of Corona Virus. All the videos made to crate awareness among the people are being posted in this telegram channel by the government which are very useful save our lives. Hence all are requested to join this telegram channel immediately and give your support to Government. Telegram channel link is given below. 



Tap/Click Here to Join the Telegram Group of Centeral Government Corona Help Desk




Corona Help Desk through Telegram Channel by Government of India


The Government of India has started help services to stop the spread of Novel Corona in India. Citizen of Telangana can avail this service facility in their mobile phones. Government of India wants to create awareness on spread Corona in the country and guide the people on how to stay safe from Corona viruses. In this regards Government of India has created a Telegram Channel for all citizens.  All the video and posters created on Corona virus will be posted in this telegram channel. 
Corona Help Desk through Telegram Channel by Central Government

Citizen of India can join this telegram channel and know the facts about the Novel Corona(COVID-19).

The Government of India is taking efforts to create awareness among the people regarding spread of Corona Virus. All the videos made to crate awareness among the people are being posted in this telegram channel by the government which are very useful save our lives. Hence all are requested to join this telegram channel immediately and give your support to Government. Telegram channel link is given below. 



Tap/Click Here to Join the Telegram Group of Centeral Government Corona Help Desk




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