Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later
4 years, 11 months ago

Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later

Firstpost  

The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks New Delhi: The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks. In a note to customers, the country’s largest lender State Bank of India said “interest shall continue to accrue on the outstanding portion of the term Loan during the moratorium period”. Similarly, it said, “for an auto loan of Rs 6 lakh with a remaining maturity of 54 months the additional interest payable would be Rs 19,000 approx equal to additional 1.5 EMIs”. Deferred instalments under the moratorium will include principal and/or interest components, bullet repayments, EMIs, credit card dues, the RBI had said.

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History of this topic

Personal Loan: Is moratorium a boon or a bane? Find out how it affects your EMI and interest payments
3 months ago

Personal Loan: Is moratorium a boon or a bane? Find out how it affects your EMI and interest payments

Live Mint  

Borrowers who find it difficult to repay personal loans can explore the prospect of a moratorium, a temporary period during which they are not supposed to make any payment. It is noteworthy that the moratorium affects loan repayment since interest keeps accruing, following which one has to pay the combined interest, thus pushing the EMIs upward. Increase in EMI amount: …

Explained | RBI’s draft guidelines on penal charges for loans
1 year, 11 months ago

Explained | RBI’s draft guidelines on penal charges for loans

The Hindu  

The story so far: Central banking regulator Reserve Bank of India on April 12 introduced for public consultation draft guidelines for the levy of ‘penal charges’ instead of the existing ‘penal interest’ imposed by banks on customers for defaulting on loan payments. According to the draft guidelines, penalties charged for default on interest payments or non-compliance of material terms and …

Bring policy to refund 'interest on interest' charged during moratorium period: RBI asks NBFCs
3 years, 11 months ago

Bring policy to refund 'interest on interest' charged during moratorium period: RBI asks NBFCs

India TV News  

The Reserve Bank of India has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the 'interest on interest' charged to borrowers during the moratorium period of March 1 to August 31, 2020. In a major relief to big borrowers, the Supreme Court last month ruled that no penal or compound interest …

Supreme Court waives compound, penal interests on loans during moratorium
3 years, 11 months ago

Supreme Court waives compound, penal interests on loans during moratorium

Hindustan Times  

The Supreme Court on Tuesday ordered banks against charging borrowers any penal interest or compound interest on loans during the moratorium on repayment of loans from March to August 2020 in view of the Covid-19 pandemic. The court refused to extend the moratorium or tinker with the resolution mechanism proposed by Reserve Bank of India to waive compound interest on …

Loan moratorium case | Refund penal interest on EMIs, Supreme Court tells lenders
3 years, 11 months ago

Loan moratorium case | Refund penal interest on EMIs, Supreme Court tells lenders

The Hindu  

The Supreme Court on Tuesday directed banks and financial institutions to refund compound interest, interest on interest or penal interest collected on EMI for loans during the period of moratorium from March 1 to August 31 last year. The court said the amount accumulated as compound/penal interest or interest on interest during the six-month moratorium on term loan EMIs should …

Supreme Court Bars Charging Compound Interest Or Penal Interest On Any Borrower During Loan Moratorium; Refuses Moratorium Extension
3 years, 11 months ago

Supreme Court Bars Charging Compound Interest Or Penal Interest On Any Borrower During Loan Moratorium; Refuses Moratorium Extension

Live Law  

The Supreme Court on Tuesday directed that there should be no charging of compound interest, interest on interest or penal interest on the installments which were due during the loan moratorium period from March 1 to August 31 last year on any borrower, irrespective of the loan amount. Terming this policy of the Centre to be "arbitrary and discriminatory", the …

Supreme Court Bars Compound Interest, Penal Interest During Loan Moratorium
3 years, 11 months ago

Supreme Court Bars Compound Interest, Penal Interest During Loan Moratorium

Live Law  

The Supreme Court on Tuesday directed that there should be no charging of compound interest, interest on interest or penal interest on the installments which were due during the loan moratorium period from March 1 to August 31 last year on any borrower, irrespective of the loan amount. Terming this policy of the Centre to be "arbitrary and discriminatory", the …

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told
4 years, 3 months ago

Loan Moratorium- Resolution Framework For COVID-Related Stress More Restrictive Than Prudential Norms For Normal Times: SC Told

Live Law  

Senior Advocate Ravindra Srivastava, for the group, told the bench of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah that the banks are "prevailing over" the government and the RBI and "making huge profits". Mr. Srivastava argued that while the Kamath committee had mentioned 26 sectors as having been severely-impacted during the Covid pandemic, the waiver of compound …

Last Date for Lenders to Credit Interest-on-interest in Borrower Accounts Today; All You Need to Know
4 years, 4 months ago

Last Date for Lenders to Credit Interest-on-interest in Borrower Accounts Today; All You Need to Know

News 18  

Lenders have been directed to credit in the accounts of eligible borrowers the difference between compound interest and simple interest collected on loans of up to Rs 2 crore during the RBI’s loan moratorium scheme by today. The apex court in the due course directed the Centre to provide interest waiver on loans of up to Rs 2 crore under …

[Loan Moratorium And Interest Waiver] Banks Are Advised To Credit Difference Between Compound And Simple Interest To Borrowers: RBI Tells Supreme Court
4 years, 4 months ago

[Loan Moratorium And Interest Waiver] Banks Are Advised To Credit Difference Between Compound And Simple Interest To Borrowers: RBI Tells Supreme Court

Live Law  

In the ongoing issue pertaining to levy of accruing interest on interest and loan moratorium before Supreme Court, Reserve Bank of India informed the Court that banks shall be guided by a Scheme for effectuating ex gratia payments to borrowers towards specified loan amounts.The Additional Affidavit states that the applicable scheme dated October 23 will be "Scheme for grant of …

RBI Asks Lenders to Implement Waiver of Interest on Interest for Loans upto Rs 2cr by Nov 5
4 years, 4 months ago

RBI Asks Lenders to Implement Waiver of Interest on Interest for Loans upto Rs 2cr by Nov 5

News 18  

The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to ensure that the scheme of waiver of interest on interest for loans up to Rs 2 crore for the six-month moratorium period is implemented by November 5, as decided by the government. Last Friday, the government had announced the scheme for grant of ex-gratia payment of …

Loan moratorium case: Lenders to credit ‘interest on interest’ to borrowers by 5 Nov, Centre tells SC
4 years, 4 months ago

Loan moratorium case: Lenders to credit ‘interest on interest’ to borrowers by 5 Nov, Centre tells SC

Firstpost  

The Ministry of Finance has said that after crediting this amount, the lending institutions would claim reimbursement from the Central government New Delhi: The Centre has informed the Supreme Court that lenders have been directed to credit in the accounts of eligible borrowers by 5 November the difference between compound interest and simple interest collected on loans of up to …

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period
4 years, 4 months ago

Here is What You Will Get if You Paid Your EMIs on Time During Loan Moratorium Period

News 18  

The Reserve Bank of India had in March, after the outbreak of the novel coronavirus, provided a moratorium on repayment of EMIs and credit card dues for three months. The top court in the due course directed the Centre to implement “as soon as possible” interest waiver on loans of up to Rs 2 crore under the RBI moratorium scheme. …

Loan moratorium | Centre informs Supreme Court it will repay additional interest by November 5
4 years, 4 months ago

Loan moratorium | Centre informs Supreme Court it will repay additional interest by November 5

The Hindu  

The Centre has informed the Supreme Court that the difference in the compound interest and simple interest charged for six months of moratorium period on eight categories of loans worth up to ₹2 crore will be paid back to borrowers by November 5, 2020. "The Central Government has directed that all lending institutions shall give effect to the scheme and …

Loan interest waiver to be credited by November 5
4 years, 4 months ago

Loan interest waiver to be credited by November 5

The Hindu  

Three weeks after informing the Supreme Court that the Centre would bear the additional compound interest on loans of up to ₹2 crore availed by retail borrowers as well as micro, small and medium enterprises, the government formally communicated the modalities of the scheme to lenders on Friday. Banks and other lenders, including co-operative banks and non-banking finance companies, have …

Govt Waives Interest on Interest for Loans Up to Rs 2 Cr Even for Those Who Didn't Opt for Moratorium
4 years, 4 months ago

Govt Waives Interest on Interest for Loans Up to Rs 2 Cr Even for Those Who Didn't Opt for Moratorium

News 18  

New Delhi: In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for loans up to Rs 2 crore irrespective of whether moratorium was availed or not. The apex court on October 14 directed the Centre to implement "as soon as possible" interest waiver on loans …

Govt waives interest on interest for loans up to ₹2 crore
4 years, 4 months ago

Govt waives interest on interest for loans up to ₹2 crore

The Hindu  

In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for loans up to ₹2 crore irrespective of whether moratorium was availed or not. The Department of Financial Services came out with operational guidelines in the backdrop of Supreme Court’s direction to implement the interest waiver …

Good news for MSME, housing, education loan borrowers ahead of Diwali, govt likely to waive interest on interest
4 years, 5 months ago

Good news for MSME, housing, education loan borrowers ahead of Diwali, govt likely to waive interest on interest

India Today  

Ahead of Diwali, a category of borrowers with up to Rs 2 crore loan for MSME, housing, education and five other categories are likely to get some relief as the government is said to have decided to waive "interest on interest" on loans up to Rs 2 crore during the six-month moratorium period, announced by the Reserve Bank of India …

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors
4 years, 5 months ago

RBI Accepts Recommendation For Separate Treatment of Aviation, Automotive, Roads Sectors

News 18  

Citing Kamath Committee recommendations, the Reserve Bank of India has informed the Supreme Court that it has accepted the recommendation for different treatment for sectors namely aviation, automobile manufacturing, roads and wholesale trading. Citing the September 7 special window notification, the RBI insisted that banks have sufficient flexibility to accommodate the impact of Covid-19 while specifying specific ratios for determining …

Moratorium extension not in borrowers\' interest: RBI tells SC
4 years, 5 months ago

Moratorium extension not in borrowers\' interest: RBI tells SC

Deccan Chronicle  

New Delhi: A loan moratorium exceeding six months might result in vitiating the overall credit discipline, which will have a debilitating impact on the process of credit creation in the economy, the Reserve Bank of India told the Supreme Court on Saturday. In its 17-page “consolidated affidavit” filed ahead of the hearing on Tuesday of the loan moratorium case, the …

Loan moratorium: Compound interest waiver applies to small firms, individuals
4 years, 5 months ago

Loan moratorium: Compound interest waiver applies to small firms, individuals

India Today  

The Union finance ministry is unlikely to extend the benefits of its move to waive the ‘interest on interest’ levied on loans taken by small firms and individuals. In March, the RBI asked lending institutions like banks, non-banking financial companies, microfinance institutions and housing finance companies to allow their borrowers to defer their instalments. The RBI’s recent financial stability report …

Lockdown moratorium | Loans up to ₹2 crore may get relief
4 years, 5 months ago

Lockdown moratorium | Loans up to ₹2 crore may get relief

The Hindu  

The Centre has informed the Supreme Court that it will continue to “hand-hold” small and vulnerable borrowers and waive the compound interest accumulated against their loans during the six-month moratorium period. The government made it clear that “any individual or entity whose loan amount is more than ₹2 crore will not be eligible for waiver of compounding of interest”. The …

SBI loan restructuring: How interest will be calculated during moratorium extension period
4 years, 5 months ago

SBI loan restructuring: How interest will be calculated during moratorium extension period

India Today  

A few days ago, the country’s largest lender State Bank of India came out with a set of rules and regulations for offering an extension on loan repayments to those affected financially by the Covid-19 pandemic. However, there are several key aspects that Covid-affected customers need to know before availing moratorium extension on repayments under SBI’s loan repayment framework. Loan …

SBI to seek promoter guarantee, pledged shares for debt recast
4 years, 6 months ago

SBI to seek promoter guarantee, pledged shares for debt recast

Live Mint  

Mumbai: State Bank of India has decided to seek additional security in the form of promoter pledges for listed companies and personal guarantee for unlisted companies in order to restructure debt under RBI’s window. The bank said that in case of listed companies, the latest financials filed with stock exchanges also have to be submitted along with cash budget and …

A balanced approach to waiving interest during moratorium
4 years, 6 months ago

A balanced approach to waiving interest during moratorium

Live Mint  

In March 2020, the Reserve Bank of India allowed a moratorium of three months on payment of instalments of loans and later extended it by three months till 31 August 2020. The scheme was a half-hearted measure to provide relief to borrowers, as the moratorium was too brief, knowing well the gravity and longevity of covid, and it addressed only …

Interest During Loan Moratorium: Centre Constitutes Expert Committee
4 years, 6 months ago

Interest During Loan Moratorium: Centre Constitutes Expert Committee

Live Law  

The Ministry of Finance on Thursday constituted an Expert Committee to study the issues related to waiver of interest and interest on interest during loan moratorium. The Centre had today told the Supreme Court today that an expert committee will look into various issues raised in the ongoing hearing in the matter of Gajendra Sharma Vs. UoI and Others The …

Govt Sets Up Expert Panel to Look into Issue of Waiver of Interest During Moratorium
4 years, 6 months ago

Govt Sets Up Expert Panel to Look into Issue of Waiver of Interest During Moratorium

News 18  

The government on Thursday said it has constituted an expert committee under former CAG Rajiv Mehrishi to look into the much-debated issue of waiver of interest on loans during the moratorium period. The announcement came hours after the government informed the Supreme Court that an expert panel has been set up to look into the issue of interest being charged …

In a Relief to Borrowers, Supreme Court Extends Loan Moratorium Scheme till September 28
4 years, 6 months ago

In a Relief to Borrowers, Supreme Court Extends Loan Moratorium Scheme till September 28

News 18  

Continuing its interim order, the Supreme Court on Thursday extended loan repayment moratorium till September 28 that directed banks not to declare any loan as NPA due to non-payment of installments during the period. The apex court had earlier asked the Centre and the Reserve Bank of India to review the move to charge interest on EMIs during the moratorium …

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon
4 years, 6 months ago

Loan moratorium: RBI likely to announce one-time loan restructuring guidelines soon

Live Mint  

The Reserve Bank of India is likely to announce the financial parameters of its proposed loan restructuring scheme soon. In his interview to CNBC Awaaz, RBI Governor Shaktikanta Das said that banks can extend the loan moratorium by 3, 6 or even 12 months under the one-time restructuring. To mitigate the hardships faced by the borrowers during coronavirus pandemic, the …

Supreme Court Adjourns Hearing in Loan Moratorium Case Till September 10
4 years, 6 months ago

Supreme Court Adjourns Hearing in Loan Moratorium Case Till September 10

News 18  

The Supreme Court on Thursday provided some relief to stressed borrowers who are facing hardship due to impact of COVID-19 pandemic. The bench said that accounts which were not declared as non-performing assets till August 31 this year, shall not be declared NPA till further orders, and adjourned the next hearing in the loan moratorium matter until next week Thursday, …

Relief for borrowers in moratorium case
4 years, 6 months ago

Relief for borrowers in moratorium case

The Hindu  

The Supreme Court on Thursday directed banks that loan accounts on the clear till the expiry of the moratorium on August 31 should not be declared as non-performing assets till further orders. A Bench led by Justice Ashok Bhushan spelt relief for borrowers struggling to gain their feet amid a pandemic with its one-liner that “accounts which were not declared …

Loan moratorium: Banks shouldn’t declare accounts as NPAs till further order, says SC
4 years, 6 months ago

Loan moratorium: Banks shouldn’t declare accounts as NPAs till further order, says SC

Live Mint  

The Supreme Court of India on Thursday passed an interim order saying that the accounts not declared as non-performing asset as on 31 August shall not be declared as NPAs till further notice. The apex court on Thursday heard a batch of petitions seeking interest waiver on loan moratorium granted by Reserve Bank of India. While arguing whether banks should …

Loan moratorium over: You can still avail extension of two more years
4 years, 6 months ago

Loan moratorium over: You can still avail extension of two more years

Live Mint  

In view of the pandemic of Covid-19, the RBI had, vide a Circular dated 27 th March 2020, permitted the lenders to allow a moratorium for three months of EMI, falling due between 1 st March 2020 and 31 st May 2020, for various categories of loans. But the things became clear when the RBI circular of 6th August 2020 …

Loan moratorium | Interest on interest “worse than taking a pound of flesh”
4 years, 6 months ago

Loan moratorium | Interest on interest “worse than taking a pound of flesh”

The Hindu  

Circulars issued by the Reserve Bank of India on August 6 and hailed by the government in the Supreme Court came under intense criticism from individual borrowers and commercial sectors across the spectrum who called it “old wine in a new bottle”. The circulars allow individual banks discretion to resolve COVID-19 -related stress and customise relief to individual borrowers facing …

Banks Free to Restructure Loans, but Can't Penalise Borrowers Availing Moratorium Benefit, SC Told
4 years, 6 months ago

Banks Free to Restructure Loans, but Can't Penalise Borrowers Availing Moratorium Benefit, SC Told

News 18  

Banks are free to restructure loans but they cannot penalise honest borrowers by charging interest on deferred EMI payments under the moratorium scheme during the COVID-19 pandemic, a petitioner opposing the move said in the Supreme Court on Wednesday. A bench headed by Justice Ashok Bhushan, which commenced final hearing on a batch of pleas raising the issue of interest …

Loan moratorium can be extended by 2 years: Govt
4 years, 6 months ago

Loan moratorium can be extended by 2 years: Govt

Live Mint  

The moratorium for repayment of loans can be extended by up to two years, according to a 6 August circular by the Reserve Bank of India, solicitor general Tushar Mehta told the Supreme Court on Tuesday. The central government also apprised the bench that it has filed an affidavit stating that the National Disaster Management Authority has taken cognizance of …

Interest waiver on EMIs during moratorium against basic canon of finance: Centre
4 years, 6 months ago

Interest waiver on EMIs during moratorium against basic canon of finance: Centre

Live Mint  

Waiver of interest on deferred EMIs during the moratorium period would be against “the basic canons of finance” and unfair to those who repaid loans as per schedule, the Centre told the Supreme Court on Tuesday. The government said any “post facto” change in the terms of the RBI circulars with regard to non-charging of interest during the moratorium period …

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31
4 years, 6 months ago

RBI May Not Extend Moratorium on Repayment of Loans Beyond August 31

News 18  

The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the COVID-19, sources said. It was only a temporary reprieve to borrowers affected by the pandemic, the sources said, adding that …

Loan moratorium scheme | Supreme Court hits out at Centre
4 years, 6 months ago

Loan moratorium scheme | Supreme Court hits out at Centre

The Hindu  

The Supreme Court on Wednesday criticised the Centre for “hiding behind the Reserve Bank of India” without making its stand clear on the loan moratorium scheme introduced during the COVID-19 pandemic. Noting that the issue had been pending indecisively for some months now, the court advised the government against adopting a blinkered vision, focussing only on matters of business of …

'Don't Hide Behind RBI, Take Own Stand': Supreme Court Raps Centre on Loan Moratorium Scheme
4 years, 6 months ago

'Don't Hide Behind RBI, Take Own Stand': Supreme Court Raps Centre on Loan Moratorium Scheme

News 18  

The Supreme Court on Wednesday said the Central government is “hiding behind the RBI” and dithering from its own stand on whether there should be some relief in the form of waiver to those who have availed loans from banks and other financial institutions. The court’s adverse comments against the Government came after Solicitor General Tushar Mehta referred to the …

State-run lenders have at least ₹7.9 tn loans under moratorium
4 years, 8 months ago

State-run lenders have at least ₹7.9 tn loans under moratorium

Live Mint  

India’s five largest state-run banks collectively have at least ₹7.9 trillion of loans under moratorium, including loans that were stressed even before the coronavirus outbreak, regulatory filings showed. Different banks are using different methods to calculate the moratorium amount and there is a lack of coherence at the moment,” said Asutosh Mishra, head of research, institutional equity, Ashika Stock Broking. …

No benefit from RBI’s loan moratorium scheme, says Supreme Court
4 years, 9 months ago

No benefit from RBI’s loan moratorium scheme, says Supreme Court

The Hindu  

The Supreme Court on Wednesday said there were few takers for the Reserve Bank of India’s loan moratorium scheme during the lockdown because people know there was hardly any benefit arising out of it. Appearing before a Bench led by Justice Ashok Bhushan, Solicitor-General Tushar Mehta, who had met Finance Ministry and RBI officials, explained that the moratorium during a …

SC directs Centre and RBI to review loan moratorium scheme
4 years, 9 months ago

SC directs Centre and RBI to review loan moratorium scheme

Live Mint  

NEW DELHI: The Supreme Court on Wednesday directed the Centre and Reserve Bank of India to review the moratorium scheme on term loans and create tailored schemes for various sectors, including agriculture. The central bank had on 22 May extended moratorium on term loans till 31 August amid the nationwide lockdown due to covid-19. In March, the central bank had …

Loan interest can’t be waived, SBI tells SC
4 years, 9 months ago

Loan interest can’t be waived, SBI tells SC

Live Mint  

Banks are of the view that interest on loans cannot be waived for the six months of the repayment moratorium allowed by the central bank, State Bank of India told the Supreme Court on Friday. SBI’s statement came in an intervention application it filed on Friday in a plea seeking a waiver on interest charges during the course of the …

All kind of loans, contractual transactions can't be put under moratorium: SEBI to SC
4 years, 9 months ago

All kind of loans, contractual transactions can't be put under moratorium: SEBI to SC

India Today  

Almost all industries in the country have been suffering due to Covid-19 pandemic but all kinds of loan and contractual transactions cannot be put under the moratorium, the Securities and Exchange Board of India has told the Supreme Court. SEBI filed an affidavit in this regard in the apex court which had sought its stand on a plea which sought …

Interest-free moratorium on loans is a bad idea
4 years, 9 months ago

Interest-free moratorium on loans is a bad idea

Live Mint  

State Bank of India recently said that 21.8% of its overall borrowers and 21% of its retail borrowers had availed of the loan moratorium. The Reserve Bank of India has estimated that if interest is not charged on loans under moratorium, around ₹2.01 trillion will be lost across banks. Thus, not charging interest on loans under moratorium is a bad …

SC Raises Concerns Over RBI Allowing Levy Of Interest During Moratorium; Adjourns Hearing Till June 12
4 years, 9 months ago

SC Raises Concerns Over RBI Allowing Levy Of Interest During Moratorium; Adjourns Hearing Till June 12

Live Law  

The Supreme Court on Thursday made oral observations raising concerns over the Reserve Bank of India allowing levy of interest during the moratorium period allowed for loan repayments.A bench comprising Justices Ashok Bhushan, S K Kaul and M R Shah was hearing petitions filed Gajendra Sharma and few others challenging the RBI Circulars of March 27 and May 22 to …

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC
4 years, 9 months ago

Waiver Of Interest On Loans During Moratorium Affects Stability Of Financial Institutions, RBI Tells SC

Live Law  

The Reserve Bank of India has filed its counter affidavit stating that a waiving off interest on term loan repayments during moratorium would not be prudent as it would hit the health of banks & risk their financial stability.On May 26, the Top Court had sought a response from the RBI in a plea regarding the levy of interest on …

Know how loan moratorium will work in case of no-cost EMI
4 years, 9 months ago

Know how loan moratorium will work in case of no-cost EMI

Live Mint  

Many times people opt for no-cost equated monthly installments when they buy electronic items or gadgets such as a refrigerator, air conditioner or mobile phone online or through offline retailers. However, if you opt for a moratorium in case of a no-cost EMI, you may end up paying a very high rate of interest on your outstanding loan amount. Bajaj …

Moratorium will hurt NBFC balance sheets: experts
4 years, 9 months ago

Moratorium will hurt NBFC balance sheets: experts

Live Mint  

The six-month moratorium on loan repayments will hurt the balance sheets of Indian non-bank financiers, as most borrowers availed the scheme, but the lenders were denied the benefit by banks, said industry experts. Speaking via videoconference at CII’s Annual Session 2020 on Tuesday, the experts said while the moratorium will help borrowers, it was not the most effective solution to …

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