RBI allows banks to provide three month moratorium on term loans.

RBI allows banks to provide 3 month moratorium on term loans.|Photo Credit: Muralinath

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Moratorium on term loans is amongst the measures.

The Reserve Bank of India on Friday took a series of steps to reduce the economic impact due to the lockdown triggered by COVID-19, that includes moratorium on term loans.

” Moratorium on Term Loans: All commercial banks (including regional rural banks, little finance banks and city banks), co-operative banks, all-India banks, and NBFCs (including real estate financing companies and micro-finance institutions) (” loan provider”) are being allowed to allow a moratorium of three months on payment of i