Mumbai: RBI has granted moratorium for three months for payment of instalment or EMI till June 30 against loan taken from Bank that includes auto loans, education loans and home loans.

There will be no differences in Credit History and not applicable for repayment on Credit Card.

RBI has permitted three months moratorium to all Commercial Banks , Co operative Banks and NBFCs.

All commercial banks Co-Operative banks, All-India Financial Institutions, and NBFC are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020.

According to RBI, the repayment schedule and all subsequent due dates, as also the tenure for such loans, may be shifted across the board by three months.  

News Edit by KVRaman