Mumbai: After Reserve Bank of India (RBI) permitted banks to provide a three-month repayment moratorium, 90% of Bank of Baroda’s (BoB) eligible borrowers have opted for it, said Sanjiv Chadha, chief executive of the bank.
Chadha spoke at a webinar organised by Care Ratings on Monday. “The RBI gave us the option of extending a moratorium to our clients and we decided to make it an opt-out event.
This means everybody gets a moratorium unless someone specifically opts out of that. Ninety percent of our eligible clients have elected to use the moratorium," said Chadha.
In comparison, the percentage of borrowers opting for repayment deferment from private banks is quite low. For instance, Axis Bank said that as of 25 April, 10-12% of the