The Reserve Bank of India (RBI) on Friday cut policy rates and extended the moratorium period till August to give borrowers facing a cash crunch some respite.

But the move may not help all borrowers for three reasons: the cut will immediately benefit only those whose loans are linked to the repo rate, new borrowers may find it difficult to get a loan as banks have tightened lending policies and the moratorium will add to the cost of the loan in the long term.

Depositors will suffer and so will debt mutual fund investors as long-dated funds may not gain the way they normally do after a rate cut, and short-term funds will see their returns fall.

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MCHI moves SC challenging RBI order for interest waiver during moratorium

Maharashtra Chambers of Housing Industry says accrual of interest on the loan amount would place monetary burden on the real estate industry

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BBC Radio 1 Ups Aled Haydn Jones to Head of Station

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India's Covid-19 recovery rate improves to 48.19%

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

What RBI rate cut means for the borrower, investor, depositor

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