https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576286
arnabdimer
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Economic Package - Credit card repayment deferment
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Saw on news that in the economic Package being discussed, they are also thinking to defer the credit card payment by 3 months.
What are your views on this ? Do you guys think this as a possibility?
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https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576298
You’re expecting way too much 
//* ~5 months to pay your dues* //
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576313
That’s how NPA Grows, those who are honest will pay and those who are not will run away with banks money.
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576324
Lolz, more bad debts on the way…….
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576366
I think it gives a breathing window to many people whose income is going to be hit in this turmoil.
If they are giving moratorium period to business to repay their loans, home buyers to pay their EMI’s , even then credit card users can also get a 3 month window to repay their dues.
We will have the package by this weekend, it would be a welcome addition if they include this moratorium period.
Regarding bad debts this will result in lower bad debts as people who are genuinely affected by this would want to pay and 3 months gives them ample opportunity to do so.
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576437
Moratorium means, you will continue to pay interest on EMIs and CC bills without any late payment penalties.
CC bill payment attracts min 3% interest (36% per year).
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576441
I think they would not charge any interest or would charge a nominal rate of interest rather than the 36% being charged currently.
Government might also foot a portion of interest. This weekend might tell us the complete picture.
https://www.desidime.com/discussions/economic-package-credit-card-repayment-deferment?page=1#post_6576596
It may be 28% instead of 36%, this FM is damn frugal
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