30 Mar
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RBI announces EMI moratorium: Will my installment be deducted, are credit card bills suspended and other questions answered
The Reserve Bank of India (RBI) on Friday allowed all financial institutions to allow a three-month moratorium for all term loans in light of the COVID-19 outbreak and the subsequent lockdown. In effect, banks can allow all customers to not pay their monthly EMIs for a 3-month period, and the non-repayment will not hurt their credit score. Here are all the questions on this decision answered. Q: My EMI is due soon. Will the payment not be dedu
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