FinMin report on economy claims huge progress

In a status report on measures announced to boost economy, the Finance Ministry on Thursday claimed to have fulfilled many, while making significant progress on several others.

As per the report card, all public sector banks (PSBs) have introduced Repo Rate Linked Products (RRLP). Further, the RBI has mandated that all scheduled commercial banks introduce repo-linked home loan products and external benchmarked linked floating rate loans for retail and MSME borrowers starting October 1.