The government is ready to take all possible steps to provide relief to the common people from the economic crisis of Corona. According to sources, under this, the Reserve Bank can extend the facility of relief (loan moratorium) on EMI till 31 December 2020, the last date of which is 31 August.
Sources say that no decision has been taken to increase the loan moratorium. However, talks are going on with the RBI and all sides regarding this. Sources say that Lone Moratorium is likely to expand. This can be extended till 31 December.
Reserve Bank Governor Shaktikanta Das has assured many times that the central bank is ready to take all possible measures to save the economy from Corona. Experts say that in the case of non-raising of the moratorium, the risk of loan default may increase as everyone's earnings from business to the job have been affected.
The RBI had given the Moratorium facility for three months in March. Later, RBI extended it for three months and extended it till 31 August.