0
is moratorium extended till december 2020
is moratorium extended till december 2020
1 Answer
0
RBI is unlikely to withhold repayment of bank loans from August 31 onwards as the credit behavior of borrowers is expanded without resolving the issues faced by them after the outbreak of COVID-19. The hearing is alreayd in the court where the central govt had said that it is possible to extend the moratorium period by 2 years or so. However RBI sources claim that the moratorium period shall not be extended till Dec 2020, in order to give financially drained people who have suffered due to corona pandemic.
RBI had announced a moratorium on repayment of loans for six months beginning March 1, 2020, to help businesses and individuals deal with financial problems caused by disruption of normal business activities. The six-month moratorium expires on August 31.
This was only a temporary suppression for borrowers affected by the pandemic. a moratorium period of more than six months could affect the credit behavior of borrowers and increase the risks of delayed payments to scheduled payments. Can start again.