This facility of RBI can help you for repayment if there is no money to give EMI from next month
New Delhi: Taking the serious note of the financial aspect of the people amid the lockdown imposed to contain spread of coronavirus the Reserve Bank of India had announced a loan moratorium to help people who are paying their EMI of different loans.
RBI Governor Shaktikanta Das had announced the loan moratorium for three months which was later extended for another three months. However, as the term of Loan Moratorium is ending on August 31 it will be mandatory for customers to fill EMI from the month of September.
Shaktikanta Das, though announced loan restructuring, did not said anything about extending the moratorium period after the Monetary Policy Review (RBI MPC) meeting on Thursday.
The burden of depositing EMI will increase for people after the completion of loan moratorium, during which they were taking advantage of Moratorium and they do not have enough funds for repair.
However, there are two types of opinions among the enlistees regarding the extension of loan moratorium by RBI. The bankers, on the other, say that restructuring facility will give more benefits than moratorium. In the past, Aditya Puri and SBI Chairman Rajnish Kumar also said the same.