RBI extends loan moratorium by additional 3 months: Governor Shaktikanta Das

22 May 2020

The Reserve Bank of India (RBI) said on Friday the three-month moratorium on payment of instalments on term loans to banks, non-bank financial institutions (NBFCs), including housing finance companies, and other financial institutions is being extended by another three months.

 

“In view of the extension of the lockdown and continuing disruption on account of Covid-19, these measures are being further extended by another three months from June 1 to August 31,” Das said during a press conference through video, his third such address to the media during the coronavirus pandemic.

 

Das said the decision was taken in an unscheduled meeting of RBI’s monetary policy committee (MPC).

 

The announcements also came as the country entered the fifth day of the fourth phase of the nationwide lockdown to curb the spread of the virus.

 

The central bank had allowed financial institutions a three-month moratorium on payment of instalments on term loans on March 27.

 

The moratorium allowed by RBI will help borrowers in easing the burden on their savings and avoid turning defaulters.

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Today
8:03am
Hi Jenna! I made a new design, and i wanted to show it to you.
8:03am
It's quite clean and it's inspired from Bulkit.
8:12am
Oh really??! I want to see that.
8:13am
FYI it was done in less than a day.
8:17am
Great to hear it. Just send me the PSD files so i can have a look at it.
8:18am
And if you have a prototype, you can also send me the link to it.

Monday
4:55pm
Hey Jenna, what's up?
4:56pm
Iam coming to LA tomorrow. Interested in having lunch?
5:21pm
Hey mate, it's been a while. Sure I would love to.
5:27pm
Ok. Let's say i pick you up at 12:30 at work, works?
5:43pm
Yup, that works great.
5:44pm
And yeah, don't forget to bring some of my favourite cheese cake.
5:27pm
No worries

Today
2:01pm
Hello Jenna, did you read my proposal?
2:01pm
Didn't hear from you since i sent it.
2:02pm
Hello Milly, Iam really sorry, Iam so busy recently, but i had the time to read it.
2:04pm
And what did you think about it?
2:05pm
Actually it's quite good, there might be some small changes but overall it's great.
2:07pm
I think that i can give it to my boss at this stage.
2:09pm
Crossing fingers then

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