RBI allows banks to provide 3 months moratorium on term loans

Benefit available to term loans outstanding as on 1 March 2020

All commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) (lending institutions) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on 1 March 2020.

Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, may be shifted across the board by three months.

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