Regularise your accounts by the end of November

Borrowers must recommence regular repayments and ensure that they do not default on their loan obligations

A credit score is a dynamic one, given on the basis of a borrower’s behaviour that summarises the historical information. The Reserve Bank of India’s (RBI’s) decision in March 2020 to allow a moratorium period of three months for all outstanding loans (which was subsequently extended to six months), aimed to provide relief and reassurance to those who were financially impacted due to the pandemic. This moratorium on term-loans and credit card repayments was to help customers balance their lives and livelihoods in the near term by deferring their debt repayments. It is important to note that the moratorium was