EMI payment waiver: The Reserve Bank of India (RBI) has permitted all lending institutions, which includes banks, NBFC and co-operative banks, to allow a 3-month “moratorium” on payment of installments on term loans. So, if you were worried about paying EMIs on home loans, auto loans, personal loans, etc. then you can now relax as the RBI Governor Shaktikanta Das has announced three months’ waiver on term loan EMIs deduction.
See Zee Business tweet below:
— Zee Business (@ZeeBusiness) March 27, 2020
Terming the RBI’s decision as a timely, move Veena Sivaramakrishnan, Partner, Shardul Amarchand Mangaldas & Co said, “RBI has broadly delivered on the immediate expectation that the industry has posed to the regulator. Deferment of interest for…