NBFC-MFIs seek clarity from RBI on 3-month moratorium on loans

RBI seeks data on drawdowns, bank loans, exposure to NCDs and CPs

Non-banking financial companies operating as microfinance institutions (NBFC-MFIs) have sought clarity from Reserve Bank of India (RBI) on whether they are eligible for the three-month moratorium on loan repayments announced by the central bank on March 27.
 

“There is still confusion among banks on whether they should extend the moratorium to NBFCs. We have asked the RBI to clarify the position on this matter,” said Manoj Nambiar, chairman, Microfinance Institutions Network (MFIN), a self-regulatory organisation of the sector.
 

Senior MFI executives contend that while they have extended the moratorium to their customers, the same hasn’t been extended to them by