Mandatory yet discretionary: Confusion prevails over EMI moratorium
- Each NBFC has adopted a different approach, while some gave moratorium in line with the RBI's announcement, that is, twice for three months, some asked borrowers to apply for each month.
- There are others who are giving moratorium based on their discretion.
For the past one month, Sandeep Kumar Sahoo has been emailing his lender to offer him moratorium. The 23-year-old student from Jamshedpur had taken a personal loan from an online platform that focusses on small-ticket loans to students.
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