RBI gives additional 60 days for repayment of housing, car, farm loans up to Rs 1 crore.
It is applicable to loans payable between November 1 and December 31
RBI has provided some relief to small borrowers and firms struggling to make repayments on their loan dues due to a shortage of cash. In a press release issued on Monday, the RBI offered an additional 60-days to certain categories of borrowers to make good on their dues. The relief extends to non-banking finance companies (NBFCs) and microfinance institutions (MFIs) which have seen collections fall sharply due to the shortage of currency.