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RBI expands EMI moratorium for the next three months on term loans. Some tips about what it indicates for borrowers

RBI expands EMI moratorium for the next three months on term loans. Some tips about what it indicates for borrowers

The sooner due date of three-month EMI moratorium on term loans had been closing may 31, 2020.

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The Reserve Bank of Asia (RBI) announced an expansion of this moratorium on term loan EMIs by 3 months, in other words. Till August 31, 2020 in a press seminar dated might 22, 2020. The sooner moratorium that is three-month the mortgage EMIs had been closing on May 31, 2020. This will make it a total of 6 months of moratorium on loan EMIs (equated instalment that is monthly beginning with March 1, 2020 to August 31, 2020.