RBI announces moratorium on loans, fresh lending
RBI announces moratorium on loans, fresh lending
Reserve Bank of India Governor Shaktikanta Das during his addresses in Mumbai.
MUMBAI, May 5: RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure as it announced support measures to cushion the pandemic’s blow on the economy.
The moratorium of up to two years will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das in an unscheduled address.