So, if the RBI offers a moratorium on home loans, it means that those who are unable to pay their home loan EMIs for the period for which the moratorium is in effect, are not to be classified as loan defaulters. What does loan moratorium mean?Īccording to the Oxford Dictionary, a moratorium on something is a temporary stopping of an activity, especially by an official agreement. In this article, we will learn everything we need to know about EMI moratorium and how it impacted the country in general and home loan borrowers in India in particular. The RBI move to launch the EMI moratorium scheme, which was subsequently announced by all leading banks in India, to offer interim monetary relief in the time of an absolute need, has been widely appreciated by the industry, as well as end-users. When the coronavirus pandemic brought an economic upheaval with its outbreak in March 2020 in India, the country’s banking regulator RBI announced an EMI moratorium for borrowers who had taken big-ticket loans like home loans. Loan moratorium : Commonly asked questions.EMI moratorium guidelines by banks and financial lenders.What does a 6-month moratorium on repayment mean, for home loan borrowers? Loan moratorium : What did the RBI’s scheme offer?.Banks launch aggressive measures to recover home loan dues.
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Loan moratorium 2.0: How to apply for loan restructuring?.What if you already availed of a loan moratorium?.RBI moratorium 2.0: Eligibility criteria.Loan moratorium 2.0: RBI’s resolution framework for loan restructuring.