RBI extends moratorium on EMIs till August

RBI extends moratorium on EMIs till August

70°
Missing
Shopping Friend
636
7535
119
RBI extends moratorium on EMIs till August

RBI extends moratorium on EMIs till August

Update: Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis.

In March, the central bank had allowed a three-month moratorium on payment of all term loans due between March 1, 2020, and May 31, 2020.

Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, were shifted across the board by three months. As a result of this moratorium, individuals’ EMI repayments of loans taken were not deducted from their bank accounts, providing much-needed liquidity. The EMI payments will restart only once the moratorium time period expires on August 31. — PTI

https://news.rediff.com/commentary/2020/may/22/...

11 Comments  |  
10 Dimers
Missing
Deal Cadet
51
873
10

Good to hear. tough times for many like me . it will definitely help

Missing
Deal Lieutenant
483
3531
45
Expand
piyush2251 wrote:

Interest to leke rahenge ye.

Otherwise how they ll get gst?

Missing
Deal Captain
28
13232
152

banks can even give 1 or 2 years more moratorium, as they are the one who are in profit.

Missing
Deal Captain
28
13232
152

banks can even give 1 or 2 years more moratorium, as they are the one who are in profit.

Missing
Deal Subedar
228
1177
11
Cody wrote:

banks can even give 1 or 2 years more moratorium, as they are the one who are in profit.

it also significantly increases the risk for banks

Missing
Deal Cadet
76
419
1
Expand
Simbha3 wrote:

Otherwise how they ll get gst?

I dont think there is gst on interest except for the cc

Missing
Deal Cadet
300
879
12

Bro, it is good momentarily but if it goes for long then people will get habbit of not paying their EMIs and NPA will increase like anything.

Missing