RBI monetary coverage: Central bank extends moratorium on loans for another 3 months till August – Firstpost

Mumbai: Reserve Bank Governor Shaktikanta Das on Friday prolonged the moratorium on fee of loans by another three months till August to offer a lot-wanted reduction to debtors whose earnings has been hit as a result of coronavirus disaster.

In March, the central bank had allowed a 3-month moratorium on fee of all time period loans due between 1 March, 2020, and 31 May, 2020.

Accordingly, the compensation schedule and all subsequent due dates, as additionally the tenor for such loans, have been shifted throughout the board by three months.

Click right here to observe LIVE information and updates on inventory markets

As a results of this moratorium, people’ EMI repayments of loans taken weren’t deducted from their bank accounts, offering a lot-wanted liquidity.

The EMI funds will restart solely as soon as the moratorium time interval expires on 31 August.

Source hyperlink

What do you think?

Written by Business Boy


Leave a Reply

Your email address will not be published. Required fields are marked *



Indian economy to contract in FY21; lockdown compounds economic challenges, says Moody’s – Firstpost

KKR to invest Rs 11,367 cr in Reliance Jio for 2.32% stake, fifth deal in less than a month – Firstpost