HomeFinanceLoan Moratorium Extension: Common people can get EMI relief by December

Loan Moratorium Extension: Common people can get EMI relief by December

  • Second Phase of Loan Moratorium ending on 31 August 2020
  • Loan Moratorium 3 is being considered, Reserve Bank is brainstorming

new Delhi. Due to Coronavirus, most sectors have not yet recovered from the financial crisis in the country. At the same time, the process of going to the jobs of common people is going on continuously. In such a situation, it is being considered to increase the RBI Moratorium. RBI is churning deeply in this case. According to the media report, RBI can do Loan Moratorium Extension by December. Let us tell you that the last time the Loan Moratorium was increased by 3 months by 31 August. According to experts, the RBI is not in a mood to hurry about this. Is engaged in talking to all sides.

The loan moratorium
media report may be extended till December 31, citing sources as saying that no decision has been taken on the loan morotorium , but is negotiating with all sides on behalf of the RBI. Sources even say that RBI has made up its mind to act as a loan moratorium. Which is likely to be extended by 31 December 2020. According to experts, pressure is being given by many sectors to give relief to the RBI. Due to which, the RBI is seriously considering giving loan moratorium once again.

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These sectors are still in poor condition
, the worst situation in the country is being seen in the automobiles and aviation sector. At the same time, the hospitality and service sectors are also running in a very bad condition. All the sectors work has come to a standstill, due to which either the employees are being fired or sent on paid leave. Even the salary is being reduced from 40 to 60 percent. Recently, at the behest of the aviation ministry, the government airline AI has reduced the salary of its employees by more than 50%. In such a situation, there is continuous pressure on the RBI.

Have said before RBI Governor
Reserve Bank of India Governor Shaktikanta slave masses of the country will make every effort to save the economy that has earned trust times Corona. According to experts, the risk of loan default is likely to increase in the event of no increase of moratorium. From the business to the jobbers, there is an impact on everyone’s earnings. The RBI had given the Moratorium facility for three months in March. After which it was extended for three months till 31 August.

Pravesh Kumar is associated with Informalnewz since last 5 years and head content department. He has done bcom in finance and loves writing.


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