Repo rate cut welcome but direction on EMIs ambiguous and half-hearted: Chidambaram on RBI measures

India Today | Mar 27, 2020 at 6:36 AM
  • Former Finance Minister P Chidambaram has welcomed the decision of the RBI to cut repo and reverse repo rate while raising concerns over central bank’s step on putting on hold EMI payments on all term loans for three months.
  • Chidambaram, however, raised concerns over RBI’s decision to put EMIs on hold calling the measure ambiguous and half-hearted.
  • The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy.