Six things to know about RBI's moratorium on EMI
- Though the moratorium covers all payments due between 1 March and 31 May, many borrowers might have paid their instalment for the month of March
In a relief to borrowers who could be facing liquidity issues in paying their equated monthly installments (EMI) amid the nationwide lockdown, the Reserve Bank of India (RBI) on Friday allowed banks and other financial institutions to provide a moratorium of three months to all term loan borrowers.
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