EMI Moratorium

Moratorium period on loan repayment extendable by two years: Centre, RBI tell SC

Moratorium period on loan repayment extendable by two years: Centre, RBI tell SC

The Centre and Reserve Bank of India (RBI) on Tuesday told the Supreme Court that the moratorium period on repayment of loans amid the COVID-19 pandemic is extendable by two years. On March 27 the had RBI permitted all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) (referred to hereafter as “lending institutions”) to allow a moratorium of three months on payment of installments in respect of all…
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