Borrowers get another three-month relief as RBI extends moratorium on loans till August

In a major relief to borrowers, the Reserve Bank of India (RBI) on Friday extended the moratorium period for the repayment of loans by another three months till August to help them beat the income disruption caused due to the COVID-19 crisis. In March, the central bank had allowed a three-month moratorium on repayment of all term loans due between March 1, 2020 and May 31, 2020.