Banks to seek extension of moratorium on loan repayments beyond June

CII has sought an increase in credit limits for all regular banking accounts by 25 per cent

Lenders will seek extension of the moratorium on loan repayments beyond June as part of a comprehensive package to support borrowers and revive the economy.

The Reserve Bank of India had on March 27 allowed banks and finance companies to offer a moratorium of three months on payment of instalments of all term loans outstanding as on March 1. This was done in light of the impact of the coronavirus disease (Covid-19). Now, subsequently the nationwide lockdown has been extended till May 3 on Tuesday by Prime Minister Narendra Modi.
 

Senior bankers said it would get tougher for banks as the