RBI extends moratorium on EMIs till August
- 1068
- 14
-
- Last Comment
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
- Sort By
6 months interest?
Interest to leke rahenge ye.
banks can even give 1 or 2 years more moratorium, as they are the one who are in profit.
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
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.
Any update?
Good to hear. tough times for many like me . it will definitely help