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  Business   Economy  17 Apr 2020  Bank dividend payments suspended

Bank dividend payments suspended

Published : Apr 17, 2020, 12:47 pm IST
Updated : Apr 17, 2020, 12:47 pm IST

To maintain financial health, banks have been exempt to make any further dividend payout

 Representative Image. (PTI Photo)
  Representative Image. (PTI Photo)

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

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

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

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

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

Tags: dividend payment, bank loans, covid-19, bank payment stopped, coronavirus crisis, coronavirus impact, covid 19 india
Location: India, Maharashtra, Mumbai (Bombay)