RBI Extends EMI Moratorium For Another Three Months On Term Loans; RBI Governor Shaktikanta Das

The Reserve Bank of India (RBI) announced an extension of the moratorium on loan EMIs by three months, i.e. August 31, 2020. The earlier three-month moratorium on the loan EMIs was ending on May 31, 2020. This makes it a total of six months moratorium on loan EMIs starting from March 1, 2020. The extension of a three-month moratorium on repayment of term loans by borrowers means that they would not have to pay the loan EMI installments during the moratorium period. The extension will provide relief to many individuals, especially the self-employed, as they would have found it difficult to service their loans such as car loans, home loans etc. due to loss of income during the lockdown period from March 25, 2020. Missing an EMI payment would mean risking adverse action by banks which could have hit their credit score. ► TV9 Kannada Website: https://tv9kannada.com ► Subscribe to Tv9 Kannada:    / tv9kannada   ► Like us on Facebook:   / tv9kannada   ► Follow us on Twitter:   / tv9kannada   ► Download TV9 Kannada Android App: https://goo.gl/OM6nPA ► Download TV9 Kannada IOS App: https://goo.gl/OM6nPA ► Follow us on Instagram:   / tv9_kannada_official   ► Join us on Telegram: https://t.me/tv9kannadaofficial ► Follow us on Pinterest:   / tv9karnataka   #TV9Kannada #RBIGovernor #ShaktikantaDas #EMI #Loans