20 things to know about RBI’s extended moratorium on home loans
RBI Governor Shaktikanta Das reported that all loaning organizations are allowed to permit a ban, till August 31, 2020, on the installment of lodging credits exceptional as on March 1, 2020. Peruse our FAQs on the points of interest and impediments of benefiting of the ban on your lodging credit. In the wake of the COVID-19 or the Novel Coronavirus flare-up and the money related shock that it might have caused for some, the Reserve Bank of India (RBI), trying to furnish some alleviation to those battling with liquidity, reported some help, on March 27, 2020, as a ban on term credits for a quarter of a year, finishing on May 31, 2020. On May 22, the RBI has broadened this ban further by an additional three months, i.e., June, July and August, 2020. This makes it an aggregate of a half year for the EMI ban. This applies on the installment of regularly scheduled payments of all term credits exceptional as on March 1, 2020. This applies to home credits, too. You can invest into the up