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.