FAQs : RBI Allowed Banks to Declare Moratorium on Term Loans
Last week, the Reserve Bank of India has allowed Banks to declare a three month moratorium. In mid of distruptions caused by COVID-19 bussinesses were facing difficulaties. Thus it was felt that there may be a temporary disruption in the cash flows, and in some cases loss of income, for the businesses/ individuals and the present measures work to bring relief to those businesses / individuals. Thus RBI took this step.
This moratorium in on all term loans outstanding as on March 1, 2020. It includes working capital facilities as well.
The Indian Banks Association has answered a list of Frequently Asked Questions about the technical issues of the moratorium.
This post contains the FAQs issued by Indian Banks Association.
The post 15 FAQs : RBI Allowed Banks to Declare Moratorium on Term Loans appeared first on Studycafe.
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