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RBI, SBI Cards and Payment Services Hits New Low Since Listing

The RBI (Reserve Bank of India), one of the largest non-banking finance companies in the world, just had their stock trading at its lowest level since listing on March 16, 2020. Having fallen below its previous low-end price of Rs 501 back in April 16th, their stocks have now plummeted by over 34% from Rs 755 per share, indicating that the stress in the economy caused by the COVID-19 pandemic issues on both demand and supply is most likely to continue, or not stop for a while at best.

Not only that but shares of SBI Cards and their other payment services have dropped down a whopping 9%, to Rs 495 on the BSE very recently after the RBI announced an extension of the moratorium on loan EMIs by three months. However, to counter all this mayhem,they have quickly devised a new set of measures to lessen the impact of the coronavirus pandemic on the economy by deciding to cut the policy rate from 4.4% to just 4% now.

Other countermeasures taking place is for the working capital facilities, whereby their interest payment being deferred by another three months becomes in-line with the same three-month extension of moratorium on term loans stated earlier. What’s more is that the accumulated interest for the deferment period will mostly be covered into a funded interest term loan payable only up until the end of the current fiscal year. As such, it has become a huge boon for borrowers in the country as they no longer need to pay any accumulated interest whatsoever in one big payment, as in immediately after the deferment period, which is of great help to anyone currently on a loan.

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FIAT Financial

FIAT Financial

Operations Manager of HealthCare Family