RBI allows 3-month moratorium on EMIs

New Delhi, 27/3: Reserve Bank of India announced that the banks are permitted to allow a three-month moratorium for on payment of EMIs on all term loans that were outstanding on March 1. But the final decision lies in the hands of banks. They will decide whether to allow such relaxation to their customer or not. If implemented, it will help the customer of the banks who are financially affected due to the Coronavirus outbreak.