COVID-19 outbreak: 3-month moratorium on all loans, says RBI Governor

The Reserve Bank of India on March 27 announced that all commercial banks including regional rural banks, cooperative banks, NBFCs (including housing finance companies) and lending institutions are being permitted to allow a moratorium of 3-month on payment of instalments in respect of all term loans outstanding as on March 1. The decision was announced by RBI Governor in view of coronavirus pandemic.