RBI, in surprise move, hikes key rate by 0.4 per cent, EMIs might go up

The move will lead to an increase in lending rates and make retail loans, including home loans, costly

ABG fraud detected relatively faster: FM

Nirmala Sitharaman defended the five years taken to file the first fraud complaint in the Rs 22,842 crore loan default by ABG Shipyard

Shaktikanta Das was appointed as the Reserve Bank of India (RBI) Governor in December 2018

Das called for a more inclusive and sustainable growth

The RBI Governor said the RBI will 'continue to think and act out of the box', planning for the worst and hoping for the best

Rather than becoming averse to lending, banks have to improve their risk management and governance frameworks, Das said

Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot

RBI Governor Shaktikanta Das extended the moratorium period by another three months from June 1 to August 31 due to lockdown extension

The agenda also included taking stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments

The governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period